Monster Acquired for $429 Million by Randstad Holdings
Today Randstad Holdings announced their acquisition of the former job-hunting giant Monster Worldwide for $429 million cash.
The Amsterdam-based recruitment specialist will pay a premium on Monster’s share price at closing on Monday of $262 million. Monster will continue operating as a separate and independent entity under the Monster name.
Randstad will leveraging Monster’s multiple distribution channels to bridge two different but complementary parts of the extended recruiting industry, building what they are naming “the world’s most comprehensive portfolio of HR services.”
“In an era of massive technological change, employers are challenged to identify better ways to source and engage talent,” said Jacques van den Broek, CEO of Randstad. “With its industry leading technology platform and easy to use digital, social and mobile solutions, Monster is a natural complement to Randstad.
Monster is one of few survivors of the first dot-com boom of the early 2000’s, and at its peak was valued at nearly $8 billion.
