Monster Worldwide, Inc. (NYSE:MWW – News) announced today that it has completed its acquisition of Yahoo! HotJobs, a leading online recruitment website, from Yahoo! for $225 million in cash. Concurrent with the closing of the acquisition, Monster and Yahoo! have also entered into a three year commercial traffic agreement whereby Monster will become Yahoo!’s exclusive provider of career and job content on the Yahoo! homepage in the United States and Canada.
The acquisition of Yahoo! HotJobs further strengthens Monster’s position as the market leader in online job opportunities and global recruitment resources. Monster’s expanded customer base will have access to even more talent, with the brand reaching roughly 62 percent of the US internet population (130 million unique visitors.) Monster will also expand its newspaper partnerships from 400 to 1000 with the addition of 600 HotJobs daily and weekly newspapers providing local reach in all 50 states.
At the same time, job seekers will have access to more opportunities, since Monster is now the foremost source of job postings for employers in 19 of the top 20 industries and in 45 out of the top 50 cities as compared to any leading online career site.