Mon, 16 Apr 2012

Digital recruitment group Evenbase’s newly announced acquisition of job search engine Jobrapido was “something we’ve been thinking about for quite some time”, according to Evenbase chief executive Keith Potts.

The acquisition will give Evenbase a force multiplier in its access to candidates, and will “supercharge” the transformation of its business model, Potts said. In an interview with Recruiter, he said: “We’ve looked at the job aggregation market for many, many years. We’ve kept an eye on that market.”

The deal, announced this morning and reported by recruiter.co.uk, has a completion consideration of €30m (£24.7m). A statement from Daily Mail and General Trust (DMGT), Evenbase’s parent company, said the Jobrapido management team was incentivised “to enhance this valuation over the next few years through an earn-out arrangement based on achieving agreed financial and business performance objectives”.

Jobrapido achieved revenues of about €24m and profits of €6m during calendar year 2011, the statement said.

The Evenbase group includes Jobsite, Broadbean, OilCareers and divisions such as Business Solutions and New Ventures.