Randstad, a Dutch firm that serves as temporary employment agency, made a recent announcement to purchase Monster which is an online job portal in the United States. The asking price is said to be $429 million or 386.8 million in euros. If this happens, the company will be able to have a stronger foothold within the industry of the United States.
According to a statement from the agency which has a headquarter located in Amsterdam at the Diemen suburb, the merger agreement between the two have the following terms – Randstad is going to pay in case $3.40 for every share of the Monster company which amounts to a total buying price of around $429 million.
Monster is an online portal job listing site that is known all over the world and is based in Massachusetts. The company has been in operation for over 20 years and it first launched during the early age of e-commerce thus it is considered as one of the pioneer of e-commence in the online community.
The online job listing company is now offering its services to 40 countries all over the globe.
Randstad said in a statement that their goal is to use the network of Monster as leverage in order to build a site with a complete portfolio of services concerning human resources that the world has never seen before.
According to Jacques van den Broek, the chief executive of Randstad, we are now at an age wherein there are massive changes when it comes to the technological aspect that many employers are being challenged to create or develop a modern way of sourcing as well as engaging talents all over the globe.
Randstad will be the one financing the merger with the help of its current credit facilities and it is expected that the purchasing will be done before the final quarter of this year.
Randstad has a record of 29,750 people under its employment among the 4,473 branches which spans 39 countries all over the globe. The company has a turnover amounting to 19.2 billion euros.
For residents and citizens of Thailand looking for employment, visit the online job portal Scooppeople Asia.