DGMT buys two job sites, consolidates position in recruitment domain |
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Sun, 28 Aug 2005 09:05
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LONDON: Associated New Ventures, a division of Associated Newspapers Ltd (DMGT), has acquired two job sites -- Top-consultant.com and officerecruit.co.uk -- in a 4.1 million pound deal. These two sites are to be part of the company's Jobsite, an online recruitment site, which is expected to consolidate its position in the recruitment domain.
DMGT, which publishes newspapers like Daily Mail, The Mail On Sunday, Evening Standard and Metro, had acquired Jobsite in March last for 35 million pounds in a strategy to develop into new markets, especially creating a larger footprint, possibly by expanding into Europe.
The deal provides for Top-consultant and officerecruit to retain their brand names and strengthen the DMGT portfolio. These sites will, however, offer specialised services for job hunters and recruiters.
Top-consultant is at present the No 1 U.K. recruitment site for management consultants. Its management team, led by Paul Chantry and Tony Restell, will continue to run it as a separate division. It commanded a price of 2.25 million pounds.
Officerecruit is a recruitment portal and was valued at 1.85 million pounds. It will also be run as a separate business by the current management team led by Jim Ryan and Lucien Sullivan.
Jobsite had recently launched three sites -- for pharmaceutical industry (emedcareers.co.uk), for secretarial jobs (secrecruit.co.uk) and for jobs in Scotland (scotrecruit).
Jobsite's managing director Keith Potts said the current acquisitions fit into the company's overall strategy to increase market share by further benefiting candidates and recruiters.
Andrew Hart, managing director of Associated New Ventures, explaining the logic, said Jobsite has gone from strength to strength and the company wanted to find related profitable companies to sit within Jobsite as part of an expanding jobs division.
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