UK’s Daily Mail Extends Job Site Footprint: Buys JobsGroup.net For $20.2 Million
By Ingrid Lunden - Fri 10 Aug 2007 11:06 AM PST
Daily Mail General Trust continues to ramp up its online assets. Its Associated Newspapers division announced it would buy the JobsGroup.net portfolio of Web sites for GBP 10 million ($20.2 million) plus a three-year earn-out. The group focuses on niche recruitment sites and includes JustEngineers.net, JustConstruction.net, and JustRail.net, and will become part of the Associated Northcliffe Digital (AND) online network. JobsGroup.net is AND’s seventh online recruitment acquisition. release
Reuters points out that Trinity Mirror has also been investing in online recruitment portals, which offer relatively high margins and can be integrated into existing print and online platforms.
DMGT in May reported that revenues at AND had grown by 83 percent in the six months to April 1, largely on the back of its buying spree in job, auto and property sites. JobsGroup.net reported revenues of GBP 1.1 million ($2.2 million) last year and is expected to generate revenues of GBP 2 million ($4 million) in 2007, giving the acquisition a multiple of 5.
Posted in: Countries, UK & Europe, Media, Newspapers, PCUK, VC+M&A
