Monster Acquires Job Search Site Trovix For $72.5 Million; Military Site Armees.com
This story was written by Joseph Weisenthal.
Monster, the incumbent job site, has announced a couple of deals this afternoon, as it looks to fight off upstart competitors, like LinkedIn, Craigslist, Indeed.com and TheLadders first it has acquired Mountain View-based Trovix, a site that applies semantic search technology to job search. The acquisition price was $72.5 million in cash. Monster says it will integrate its technology, which can help scan resumes and job openings for better matching. Trovix was founded in 2002, and was backed by 3i, Granite Ventures and US Venture Partners. The company has announced over $18 million in funding over two rounds.
In addition, Monster has acquired Armees.com, a French military site. This move continues Monster's previously stated strategy of buying up affinity sites. In 2004 it bought Military.com and then earlier this year it acquire AffinityLabs.com, an affinity site holding company, for $61 million. In addition to the two deals, Monster says it has formed partnerships with Cornerstone OnDemand and HireRight to provide web-based training and employment screening services. Release.
The company also reported earnings this evening: Revenue in the second quarter increased 9 percent to $354 million. Adjusted earnings per share of $.40 exceeded the $.37 percent that analysts had been forecasting. Release.
By Joseph Weisenthal