Online recruitment giant Monster Worldwide has completed the acquisition of ChinaHR to bolster its operations in China and across Asia.

Under the terms of the transaction, Monster paid $174m in cash for the remaining 55% stake in ChinaHR.
"This is a significant day for Monster and ChinaHR and the customers we serve," said Sal Iannuzzi, chairman, president and chief executive of Monster Worldwide. "Independently, each company is a respected industry leader and together we will provide employers in China with increased recruitment productivity, by delivering more qualified candidates to help fulfill their talent needs.”

The acquisition of the remainder of ChinaHR gives Monster a dominant presence in one of the world's fastest growing recruitment marketplaces. In the first half of 2008, China created more than 6.4m jobs. To support this growth, ChinaHR currently operates 12 offices across the countries major markets, including Beijing, Shanghai, Guangzhou and Shenzhen.


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