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Summary:

The market for job classified ads may be gloomy at present, but Mail Online publisher DMGT is buying further in to it, by acquiring the Jobrapido recruitment site for up to €30 million

The market for job classified ads may be gloomy at present, but Mail Online publisher DMGT is buying further in to it, by acquiring the Jobrapido recruitment site for up to €30 million (£24.6 million, $39 million.

DMGT already owned the Jobsite, OilCareers and Broadbean recruitment sites, alongside several property and auto classified sites.

Now, with the new addition, it will brand its job sites as a new business unit called Evenbase.

Jobrapido was founded in Italy in 2006 by CEO Vito Lomele, clocked 660 million visits from more than 50 countries last year and made 2011 profit of €6 million on €24 million in revenue, DMGT says.

Recruitment revenue at DMGT’s regional news publisher Northcliffe fell by 29 percent in 2011, which it blamed on “low private sector demand and government budget cuts”.

Digital recruitment revenue grew 15 percent across DMGT’s regional and national operations, as Jobsite continued invest in marketing campaigns to drive awareness.

‘Tis the season for classifieds sites to change hands…

  • RBI just sold TotalJobs to Axel Springer for £110 million.
  • DMGT also just sold Motors.co.uk to Manheim Remarketing, which owns the U.S. Autotrader.com.

Release.

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  1. why is the multiple so low?

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