In a major move that can shake the job board industry,HR service provider Randstad will acquire Monster Worldwide Inc
Randstad Holding bought Monster Worldwide to complement its staffing services.
Randstad Holding, based in Diemen, the Netherlands, agreed to pay $3.40 per share in cash, or $429 million for the e-recruiting software company, a 23% premium to the stock price.
Monster, based in Weston, Mass., will continue to operate as a separate and independent entity under the Monster name.
Randstad offers temporary and permanent placement of workers and bills itself as one of the largest staffing companies in the U.S. with offices in 39 states.
Randstad, which has 29,750 corporate employees, said the acquisition will allow it to expand its HR services.
“With its industry-leading technology platform and easy-to-use digital, social and mobile solutions, Monster is a natural complement to Randstad,” Jacques van den Broek, CEO of Randstad, said in a statement.
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