The European online jobs marketplace StepStone is continuing with its international growth strategy by acquiring the Totaljobs Group, which operates among others the market leading jobs website Totaljobs.com in the UK. A sale and purchase agreement for the acquisition of all shares in Totaljobs Group Ltd. between StepStone GmbH, a subsidiary of Axel Springer AG, and Reed Business Information Ltd. has become effective today. The purchase price comes to approximately EUR 132 million (£ 110 million).
The Totaljobs Group, with headquarters in London, was founded in 1999 and employs a staff of over 340 people, operating a total of seven job boards. Totaljobs Group is the largest online recruitment business in the UK. Every month, more than seven million unique visitors use the Totaljobs Group’s platforms, making over four million applications. In 2011 Totaljobs Group served more than 24,000 UK companies of all sizes and industries, as well as recruitment and advertising agencies.
Dr. Jens Müffelmann, Head of Electronic Media at Axel Springer AG: “The Totaljobs Group is an excellently managed and profitable online company with growth above market average. For StepStone the acquisition is an important milestone in the company’s history and concurrently the first major investment under the new umbrella of Axel Springer Digital Classifieds. By acquiring Totaljobs Group, StepStone further expands its market share over competitors and its position as one of the leading European online job portals. Therefore StepStone now reaches a clear number one position also in the important British online job portal market.“
Rob Perkins, Founder and CEO of Totaljobs Group: “I am delighted by this move. Integrating Totaljobs Group into StepStone under the umbrella of Axel Springer Digital Classifieds is the perfect strategic fit. I firmly believe this will provide opportunities to accelerate our market growth and provide substantial benefits for our customers, jobseekers and employees.“
Mark Kelsey, CEO of Reed Business Information: “RBI is increasingly focused on paid content and data services. Totaljobs Group has achieved the number one position in the UK, however to compete in an increasingly global market and fully achieve their future potential they will benefit from the scale, focus and international coverage that StepStone brings.“
In early March, Axel Springer AG and global growth investor, General Atlantic LLC, agreed to set up a joint venture and, by this strategic partnership, they created the conditions necessary for a growth offensive in the area of digital classifieds. Axel Springer’s online classifieds business will be bundled into Axel Springer Digital Classifieds GmbH, with Axel Springer holding a 70 percent share, as majority shareholder, and General Atlantic holding a 30 percent share in this company. Along with StepStone, French and German real estate portals SeLoger and Immonet will also form part of Axel Springer Digital Classifieds.