Monster Acquires Job Search Site Trovix For $72.5 Million; Military Site Armees.com

6 Comments

imageMonster, the incumbent job site, has announced a couple of deals this afternoon, as it looks to fight off upstart competitors, like LinkedIn, Craigslist, Indeed.com and TheLadders… first it has acquired Mountain View-based Trovix, a site that applies semantic search technology to job search. The acquisition price was $72.5 million in cash. Monster says it will integrate its technology, which can help scan resumes and job openings for better matching. Trovix was founded in 2002, and was backed by 3i, Granite Ventures and US Venture Partners. The company has announced over $18 million in funding over two rounds.

In addition, Monster has acquired Armees.com, a French military site. This move continues Monster’s previously stated strategy of buying up affinity sites. In 2004 it bought Military.com and then earlier this year it acquire AffinityLabs.com, an affinity site holding company, for $61 million. In addition to the two deals, Monster says it has formed partnerships with Cornerstone OnDemand and HireRight to provide web-based training and employment screening services. Release.

The company also reported earnings this evening: Revenue in the second quarter increased 9 percent to $354 million. Adjusted earnings per share of $.40 exceeded the $.37 percent that analysts had been forecasting. Release.

6 Comments

john

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Willy

It's hard to believe that Monster couldn't put $72 million to better use. I guess it shows how much faith they have in their people to develop great new products.

Joseph Weisenthal

Thanks for your comments on Trovix. The price does seem high, particularly as it appears to be a technology acquisition. And for a company that's raised a fairly substantial $18 million in a kind of buzzy area (semantic technology!) I was surprised at how little was out there on this one.

Monster does seem to throw around a lot for acquisitions, though I think their core product is probably in a lot of trouble between the economy and all the better alternatives for finding jobs.

christian

more affinity sites the better. otherwise i'm not sure monster will ever survive. Seriously, i don't know anyone who actually uses monster on a regular basis. recruiters/industry targeted postings/etc. are the future

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