Feeds

Daily Mail group buys Jobsite for £35m

Cross-selling

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

The Daily Mail group (DMGT) is stumping up £35m for Jobsite, the online recruitment business. The group now has a robust vehicle to cross-sell jobs across print and online.

Based in Havant, Sussex, Jobsite has 80 employees. It claims 1.6 million unique visits a month to its various job websites. And it also has a recruitment software arm, called Conkers, which distributes a couple of million vacancies ads a year to 700-plus recruitment sites.

Jobsite will continue to run as a standalone subsidiary of Associated New Media, the Daily Mail group's online division. It is, says ANM boss Andrew Hart, a "rare gem, an online company that has been profitable for nine years, thanks to the quality and experience of the team."

Keith Potts, managing director of Jobsite, said: "By joining forces with a FTSE 100 media player we will create the market leading online recruitment company. With more and more recruiters using both print and Internet to fulfil their recruitment needs, this partnership will enable us to offer a more complete solution."

And of course, if the experience of the computing and engineering sectors are anything to go by, print-based classified job advertising could fall through the floor. DMGT is paying big bunce to get into an online recruitment market currently worth £100m a year, around seven per cent of the UK's entire recruitment advertising. Online recruitment revenues are growing at a lick - 43 per cent year on year for the first three quarters of 2003 - and are expected to grow to £200m by 2008.

The deal was brokered by Continental Capital Partners, a London-based corporate finance boutique which specialises in the staffing, travel and professional service sectors. ®

Related stories

UK firms give online recruitment the boot
IT contracting: don't get carried away

The Power of One Infographic

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.