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

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Axel Springer

 

Axel Springer acquires N24

n24Axel Springer SE has  acquired  N24 Media GmbH, the 24 hour news channel. The N24 Group employs around 300 staff working including at its subsidiaries N24 and MAZ&More. N24 also produces the main news bulletins for SAT.1, ProSieben and kabel eins. The terms of the deal were not disclosed.

Axel Springer plans to combine N24 and the Welt group, which publishes a daily broadsheet Die Welt. According to Axel Springer, “N24 becomes the central moving image provider for all Axel Springer brands”.

The editorial team of WELT Group is extended to include the N24 digital editorial team. The joint WELT Group/N24  editorial team will in future produce both brands’ journalistic content for all the digital channels, as well as for the WELT Group’s print products. N24 also has a TV and program editorial team. The result is one of the largest multimedia editorial teams in Germany.

The management will be Jan Bayer, 43, President of WELT Group and Printing of Axel Springer, Torsten Rossmann, 50, Chairman of the N24 management board, and Stephanie Caspar, 40, Managing Director of WELT Group.

Jan-Eric Peters, 48, editor-in-chief of WELT Group, will be responsible for all content of the WELT Group and their joint digital services. Arne Teetz, 46, editor-in-chief of N24, will be responsible for all moving image content.

Stefan Aust, 67, previously a shareholder of N24, becomes publisher of the Group from 1 January 2014. Thomas Schmid, 68, will also remain publisher of the WELT Group until 30 June 2014.

Jan Bayer said, “N24 and the WELT Group complement each other perfectly and together represent the multimedia spectrum of journalism. N24 benefits through this partnership from the editorial quality and digital expertise of WELT Group. Axel Springer and WELT Group gain access to the moving image and live news competence of N24.”

Germany, Berlin

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