Search engine Jobrapido bought by Daily Mail General Trust's A&N Media in €30 million deal
The Daily Mail General Trust’s consumer media business A&N Media, has announced the €30 million acquisition of job search engine Jobrapido.
The deal will lead to the integration of Jobrapido into the company‘s own digital recruitment group, now known as Evenbase to reflect the wider reach of the group, including Jobsite, OilCareers and Broadbean.
The management team at Jobrapido are set to remain, and have been incentivised to heighten the value of the search engine in the coming years through an earn-out deal.
Last year, Jobrapido reported revenues of €24 million, with profits of €6 million, and reported that 32 million unique visitors had used the search engine in March 2012, across 50 countries.
Keith Potts, chief executive of Evenbase, said: "I'm absolutely delighted to secure such a valuable asset for the group. Candidates are, and will always be, the raw material for recruitment. Jobrapido gives us access to job seeking candidates on a global scale and supercharges the transformation of our business model."
Martin Morgan, CEO of DMGT, added: "Bringing the Jobrapido team into the DMGT group is a great example of DMGT's core strategy in action. We seek out and acquire market leading businesses with strong positions in rapidly growing international markets. We have a strong culture of entrepreneurial management and like to retain and empower the people who built those businesses."