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8-K - FORM 8-K - MONSTER WORLDWIDE, INC. | c95504e8vk.htm |
EX-2.1 - EXHIBIT 2.1 - MONSTER WORLDWIDE, INC. | c95504exv2w1.htm |
EX-99.3 - EXHIBIT 99.3 - MONSTER WORLDWIDE, INC. | c95504exv99w3.htm |
EX-99.2 - EXHIBIT 99.2 - MONSTER WORLDWIDE, INC. | c95504exv99w2.htm |
Exhibit 99.1
Monster to Acquire HotJobs Business and
Enter into Multi-year Traffic Agreement with Yahoo!
Enter into Multi-year Traffic Agreement with Yahoo!
| Employers and advertisers expected to benefit from enhanced candidate reach, relevance and results | ||
| Job seekers gain access to more opportunities, career tools and resources | ||
| Significant increases to Monster traffic | ||
| Expands reach of Monsters 6Sense precision search technology |
New York, NY and Maynard, MA, February 3, 2010Monster Worldwide, Inc. (NYSE:MWW) announced today that it has
entered into a definitive agreement to acquire the assets of Yahoo! HotJobs, a leading online
recruitment website, from Yahoo! (NASDAQ:YHOO) for $225 million in cash. Monster and Yahoo! have
also entered into a three year commercial traffic agreement, to take effect upon the closing of
the acquisition, in which Monster will become Yahoo!s provider of career and job content on the
Yahoo! homepage in the United States and Canada. The traffic agreement calls for performance based
annual payments calculated by clicks and expressions of interest, subject to annual floors and
ceilings. In addition, the traffic agreement provides Monster with an exclusive right for a period
of time following the closing of the acquisition to negotiate similar traffic agreements with
Yahoo! properties on a global basis, including countries in Europe, Asia and Latin America, subject
to certain limitations.
HotJobs with its significant customer base plus the traffic agreement are an ideal complement to
Monsters innovative recruitment solutions and global reach, said Sal Iannuzzi, chairman, chief
executive officer and president of Monster Worldwide. These agreements, combined with Monsters
career Communities and our recently introduced 6Sense semantic search technology, will bring
substantial new benefits for employers seeking more qualified candidates and job seekers searching
for more relevant opportunities across a wider range of industries globally.
Bringing together Monster and HotJobs creates even greater access and opportunities for both
recruiters and job seekers, said Hilary Schneider, EVP, Yahoo!. The transaction with Monster
enables us to continue to provide an important service to our users through
the traffic agreement. Yahoo! remains focused on its core businesses and delivering exceptional
experiences to users, partners and advertisers.
Monster believes that the acquisition of HotJobs and the traffic agreement with Yahoo! will
provide a number of benefits to jobseekers and employers, who today have more diverse competitive
choices than ever before, and a value to all of its stakeholders, including its shareholders. These
include:
Anticipated increase in job matches and search efficiencies By bringing more diverse job and
career opportunities, tools and resources together in one place, employers and job seekers will
enjoy greater convenience and more precise search results and better matches with Monsters
patented 6Sense search technology and other innovative products.
Expected expansion of job seeker pool for employers Monster will be able to offer its employers a
significantly larger pool of candidates across diverse geographies and industries. Based on Media
Metrix comScore reporting, last year HotJobs averaged 12.6 million unique visitors per month.
Expected expansion of the number of job postings across industries for job seekers Through the
combination of Monster and HotJobs job postings, job seekers will have access to more job
opportunities in one place in those industries currently leading job creation, including
healthcare, finance and insurance, retail, manufacturing, information and wholesale trade.
Broader reach anticipated for recruitment advertising through additional media alliances and
reseller agreement With the addition of HotJobss network of more than 600 daily and weekly
newspapers, Monsters alliances with local papers will grow to a total of approximately 1,000,
giving Monster reach in all 50 states. The additional newspaper alliances, through their online
and print classified ads, will further Monsters current strategy of connecting job seekers with
smaller, local businesses, particularly in healthcare, education, and skilled and hourly job
categories.
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Yahoo! will continue to manage its broader Newspaper Consortium (NPC) partnership, including
providing both search and display advertising, content distribution, and its ad-serving platform,
to newspapers in its NPC.
The transaction is subject to clearance under Hart-Scott-Rodino Antitrust Improvements Act and
other customary closing conditions. The transaction is currently expected to close sometime during
the third quarter of 2010, subject to regulatory review. Monster expects to realize operating
synergies from the acquisition and currently anticipates the transaction will be breakeven on a pro
forma full year earnings in 2010 and accretive thereafter, inclusive of the costs incurred under
the traffic agreement.
Stone Key Partners LLC and Bank of America Merrill Lynch acted as financial advisors to Monster in
connection with this transaction. Allen & Company LLC provided a fairness opinion to Monsters
Board.
Monster to Host Investor Call (Q4 Financial Results)
February 3, 2010 at 5:00 p.m.ET
Monster will host an investor conference call at 5:00 p.m. ET today. Individuals wishing to
participate can join the conference call by dialing (877) 760-8985 at 4:50 pm and reference
conference ID#: 52168293. Those outside the United States should dial (706) 758-9636. Monsters
quarterly conference call can also be accessed online through the Companys Investor Relations
website at http://ir.monster.com.
Special Note: Except for historical information contained herein, the statements made in this
release, constitute forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements involve certain risks and uncertainties, including statements
regarding the Companys strategic direction, prospects and future results. Certain factors,
including factors outside of our control, may cause actual results to differ materially from
those contained in the forward-looking
statements, including economic and other conditions in the markets in which we operate, risks
associated with acquisitions or dispositions, competition and the other risks discussed in our Form 10-K and our other filings made with
the Securities and Exchange Commission, which discussions are incorporated in this release by
reference.
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About Monster Worldwide
Monster Worldwide, Inc. (NYSE: MWW), parent company of Monster®, the premier global online
employment solution for more than a decade, strives to inspire people to improve their lives. With
a local presence in key markets in North America, Europe, Asia and Latin America, Monster works for
everyone by connecting employers with quality job seekers at all levels and by providing
personalized career advice to consumers globally. Through online media sites and services, Monster
delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P
500 index. To learn more about Monsters industry-leading products and services, visit
www.Monster.com. For more about Monster Worldwide, visit www.about-Monster.com.
Contacts
Monster Worldwide, Inc.
Investors: Robert Jones, (212) 351-7032, Robert.Jones@Monsterworldwide.com
Media: Matt Henson, (978) 823-2627, Matthew.Henson@Monster.com
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