4th April 2012
European online jobs marketplace StepStone acquires Totaljobs Group in the UK
The 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. A sale and purchase agreement for the acquisition of all shares in Totaljobs Group Ltd. between StepStone GmbH, a subsidiary of Axel Springer AG, and Reed Business Information Ltd. has become effective today. The purchase price comes to approximately EUR 132 million (£110 million).
The Totaljobs Group, with headquarters in London, was founded in 1999 and employs a staff of over 340 people, operating a total of seven job boards. Totaljobs Group is the largest online recruitment business in the UK. Every month, more than seven million unique visitors use the Totaljobs Group’s platforms, making over four million applications. In 2011 Totaljobs Group served more than 24,000 UK companies of all sizes and industries, as well as recruitment and advertising agencies.
Dr. Jens Müffelmann, Head of Electronic Media at AxelSpringer AG: “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 no.1 position also in the important UK online job portal market.“
Rob Perkins, Founder and CEO of Totaljobs Group: “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, CEO of Reed Business Information: “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.”
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. Axel Springer’s online classifieds business will be bundled into Axel Springer Digital Classifieds GmbH, with Axel Springer holding a 70 percent share, as majority shareholder, and General Atlantic holding a 30 percent share in this company. Along with StepStone, French and German real estate portals SeLoger and Immonet will also form part of Axel Springer Digital Classifieds.
About Totaljobs Group
Totaljobs Group Ltd is the UK's largest and fastest growing and leading online recruitment advertising business comprising 7 job boards, which between them carry over 160,000 jobs, and attract 7 million jobseekers every month, generating 4 million applications. The job boards are Totaljobs.com, CareerStructure.com, Caterer.com, Catererglobal.com, CWJobs.co.uk, RetailChoice.com and Salestarget.co.uk. Totaljobs Group employs more than 340 people in offices located in London, Glasgow, Leeds, Manchester, Nottingham, Birmingham and Cardiff.
About Reed Business Information
Reed Business Information brings market leading brands to an audience of millions of decision makers worldwide through its multi-platform media of data services, online lead generation services, community websites, magazines and events. Reed Business Information Ltd is part of Reed Elsevier, a world leading provider of professional information solutions in the science, medical, legal, risk management and business to business sectors.
About Reed Elsevier Group plc
Reed Elsevier Group plc is a world leading provider of professional information solutions in the science, medical, legal, risk management, and business to business sectors. The group employs more than 30,000 people, including 16,000 in North America. Reed Elsevier reported revenues for 2011 of £6,002m/€6,902m. Reed Elsevier Group plc is owned equally by two parent companies, Reed Elsevier PLC and Reed Elsevier NV; the combined market capitalisation of the two parent companies is approximately £12bn/€15bn. Their shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RUK and ENL.
About Axel Springer AG
Axel Springer is a leading integrated multimedia company in Europe, a broad spectrum of print and digital media. Established by the publisher of the same name in 1946, today Axel Springer is Germany’s largest newspaper and third-largest magazine publisher as well as one of the leading European media enterprises. The company’s strategy focuses on its core competences excellent journalism, marketing and classified ads. Its broad media portfolio encompasses successfully established multimedia brand families such as the BILD- and WELT-Groups. With over 230 newspapers and magazines and over 160 online offerings as well as more than 120 apps, Axel Springer is active in 35 countries. In 2011, over 12,800 employees generated total revenues of € 3,184.9 million and an EBITDA of € 593.4 million.
Axel Springer press office:
Tel.: +49 (0) 30 25 91-7 76 51
Fax: +49 (0) 30 25 91-7 76 03
Totaljobs Group press office:
Tel: 0207 025 6670