Stepstone acquires Jobsite from dmgmedia for £90M

stepstone-logo-100pxAxel Springer’s recruitment business Stepstone is acquiring Jobsite from dmgmedia. The purchase price is approximately EUR €110 million (£90 million). The completion of the transaction is conditional on clearance by the UK Competition and Markets Authority.

Based in Havant, Hampshire, the company runs the job board jobsite.co.uk along with brands including CityJobs.com and eMedCareers.com. Jobsite launched in 1995 and has 169 employees.

Ralf Baumann, CEO of StepStone Group commented: “The acquisition of Jobsite is a valuable addition to our portfolio of leading jobsitejob boards and another step on our growth path. In a very competitive market, it is good to have largely complementary job boards in our portfolio. Our market-leading technology and know-how combined with Jobsite’s local expertise will provide additional growth potential for the entire group, and will help us create even more value for customers and candidates alike.”

Kevin Beatty, CEO of dmg media, said: “Jobsite has grown successfully since dmg media acquired the business in 2004. Following the disposal of OilCareers, Broadbean and Jobrapido in March and April 2014, this transaction will complete dmg media’s disposal of Evenbase and exit from the digital recruitment market, enabling dmg media to increase its focus on the core Mail businesses.”

During the year to 30 September 2013 the total revenues from Evenbase were £78 million and total operating profits were £11 million. Total proceeds from the disposal of Evenbase, including OilCareers, Broadbean and Jobrapido, are expected to be £150 million.

Along with StepStone, Totaljobs, Saongroup and YOURCAREERGROUP, Jobsite will be a new unit in the StepStone group.

UK, London & Havant, Hampshire

Related articles:

DMGT

Axel Springer