New York
– Nine months after it put the unit up for sale, Yahoo (NASD: YHOO) announced on Wednesday
that it has sold its HotJobs online recruitment service to Monster Worldwide
for $225 million in cash. The deal includes a three-year agreement wherein Monster
will provide career and job content on Yahoo’s home page in the U.S. and Canada,
and gives Monster the rights to negotiate similar agreements for Yahoo
properties in Europe, Asia and Latin America.
"Bringing
together Monster and HotJobs creates even greater access and opportunities for
both recruiters and job seekers," said Yahoo executive vice president Hilary
Schneider.
"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 said the addition of HotJobs’
partnerships with 600 daily and weekly newspapers will grow its stable to a
total of around 1,000.
The sale of HotJobs comes several weeks after Yahoo sold its
Zimbra unit to VMWare.
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