Job search site Monster Worldwide (NYSE:MWW) announced on Tuesday the acquisition of competitor Yahoo! HotJobs for $225 million in cash.
The two companies also announced a commercial traffic agreement that will span three years under which Monster will stand as Yahoo’s exclusive provider of job content on its homepage.
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The acquisition makes Monster.com the leading source for job postings in 45 out of the largest cities in the United States, and is used to find employees in 19 out of the top 20 job industries.
“We are delivering on our strategy with the acquisition of HotJobs and the clear winners are our customers, job seekers and shareholders,” said Sal Iannuzzi CEO of Monster in a company release. “We now have a powerful one-two punch of scale and precision – the largest pool of seekers and jobs, coupled with our 6Sense semantic search technology™ that allows unrivaled ability to match talent and opportunities.”