Monster Worldwide has completed its acquisition of Yahoo's HotJobs for $225 million in cash and has sealed a three-year deal as Yahoo's exclusive provider of job and career content, the companies said Tuesday.
Although Monster already claims the title as the leading online job site, the addition of HotJobs to its resume is part of the company's drive to match up more working professionals with its business customers. The deal with Yahoo will place Monster on Yahoo's home page in both the U.S. and Canada.
With HotJobs, Monster said it expects to now reach about 62 percent of the U.S. population, or 130 million unique visitors in search of jobs or career help. Those looking for work will also find more opportunities, according to Monster, since its site is now the top source of job listings for employers in 19 of the top 20 industries and in 45 of the top 50 cities.
"The combination of Monster and HotJobs offers a stronger service for all parties, with more employers, job seekers, and opportunities," Jeff Kinder, senior vice president of media products and solutions at Yahoo, said in a statement. "The traffic agreement also enables Yahoo to continue to provide users with valued online career and recruiting services."
Monster said it will go through a transition period as it builds a new, more integrated site.