RealTime IT News

TMP Worldwide Acquires Microsurf.com

TMP Worldwide Inc. Thursday finalized its purchase of Microsurf Inc. for $47.2 million in stock.

TMP (TMPW) issued 344,545 shares of common stock for all of the outstanding shares of Microsurf.

Microsurf owns and operates a network of consumer Web sites focused on relocation and other home services. Through services provided by MortgageQuotes.com and MoverQuotes.com, the Microsurf network lets clients make relocation and home financing decisions on the Internet. TMP, parent to career portal Monster.com, will incorporate Microsurf's real-time decision making tools.

Andrew J. McKelvey, chairman and chief executive officer of TMP Worldwide, said the firm inked the deal "to continue the growth of our online product offerings while enhancing our offline business services."

This week, Monster.com said it had reached a milestone record of more than six million registered job seekers. According to independent research conducted by Media Metrix for the month of January, Monster.com is the number one destination for career seekers and one of the top 100 most visited Web sites overall on the Internet. Last year, the site inked a $100-million co-branding contract with America Online Inc. (AOL)