StepStone continues its growth strategy by acquiring Jobsite, which operates in the UK. The purchase price is approximately EUR €110 million (£90 million).
Based in Havant, Hampshire, the company runs the job board jobsite.co.uk along with brands including CityJobs.com and eMedCareers.com. Jobsite launched in 1995 and has 169 employees.
Mike Wall, CEO of Jobsite, said: “I am extremely excited by this move. Working with 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, whilst providing substantial benefits for our customers, jobseekers and employees. I am looking forward to benefiting from the scale, focus and expertise that StepStone will provide."
The acquisition of Jobsite is in line with StepStone Group’s global strategy to advance in the job board business on a large scale.
Ralf Baumann, CEO of StepStone Group commented: “The acquisition of Jobsite is a valuable addition to our portfolio of leading job boards and another step on our growth path. In a very competitive market, it is good to have largely complementary job boards in our portfolio. Our market-leading technology and know-how combined with Jobsite's local expertise will provide additional growth potential for the entire group, and will help us create even more value for customers and candidates alike.”
Dr Andreas Wiele, President of Marketing and Classified Ad Models at Axel Springer SE said: “With this acquisition, Axel Springer Digital Classifieds extends its scope in the European classifieds market. With Jobsite we welcome another powerful partner in our classifieds team.”
Along with StepStone, Totaljobs, Saongroup and YOURCAREERGROUP, Jobsite will be a new unit in the StepStone group.
The completion of the transaction is conditional on clearance by the UK Competition and Markets Authority.