RealTime IT News Buys

[May 18] In a deal said to be worth $13.1 million, career portal announced Thursday its acquisition of, Scotland's largest recruitment site.

Under the terms of the takeover agreement,'s owner TMP Worldwide has issued 205,703 shares of common stock for all the shares of Business Technologies Limited, the company behind

Predicting 2000 sales of over $1.5 million, claims a leadership position in the Scottish market with clients such as Scottish Equitable, The Royal Bank of Scotland, Scottish Power, and Scottish Widows.

However, is a minnow compared with which has clients that include most of the Fortune 500 companies. TMP Worldwide operates in 29 countries and has over 7,600 employees, while its online recruitment arm has sites in 10 countries, including four in Europe.

Jeff Taylor, chief executive officer of, said that the European network is the major focus for Monster's global expansion.

"Acquisition of this dominant Scottish site, which like is already profitable, is critical to our rapidly developing footprint in this region," said Taylor.

Andrew Wilkinson, managing director, Europe, commented that there was a mass of job opportunities in Scotland, as elsewhere in Europe. He said the acquisition would give a stronger foothold in the U.K. market while also enabling European job seekers to connect with Scottish businesses.

An established site with 65,000 job seekers visiting it on average each month, was launched in October 1997.

Worldwide, enjoys over 5.2 million unique visits per month. Its network now has sites with local language and content in the U.S., U.K., Australia, Canada, the Netherlands, Belgium, New Zealand, Singapore, France and Hong Kong.