StepStone buys Totaljobs Group

European online jobs marketplace StepStone has acquired Totaljobs Group in the
 United Kingdom in a £110m deal announced today.

Wed, 4 Apr 2012

European online jobs marketplace StepStone has acquired Totaljobs Group in the United Kingdom in a £110m (EUR 132m) deal announced today.

Stepstone acquired Totaljobs from Reed Business Information in the deal, which was concluded on 31 March.

 


 

The Totaljobs Group, with headquarters in London, was founded in 1999 and employs over 340 people, operating a total of seven job boards.

In a statement, Axel Springer, the integrated multi-media company, which is the parent group of Stepstone, says: “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.

“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.”

Dr Jens Müffelmann, head of electronic media at Axel Springer AG, says: “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 chief executive of Totaljobs Group, says: “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, chief executive of Reed Business Information, says: “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.”

Mark Kingston, a senior executive at Boxington Corporate Finance, adds: “The acquisition of Totaljobs gives StepStone the number one position in the UK market and is the first step in its strategy to consolidate the wider European online job boards market. Backed by parent company Axel Springer and private equity firm General Atlantic, we expect StepStone to make further acquisitions over the next 12-24 months to support this strategy.”

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