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RealTime IT News

A Monster Deal

TMP Worldwide's flagship online careers site Monster.com acquired privately held JOBTRAK, an online job listing and resume service focused on the college and university market.

Financial terms of the deal were not disclosed. TMP said the acquisition "positions Monster.com as a leader in college recruiting by adding co-branded job listing and resume databases for more than 1,000 college and university career centers in the U.S. ... (and) enhances Monster.com's extensive database of candidates and job postings."

TMP was up $2.37 in early trading to $74.50 after the company posted third-quarter earnings that beat analysts' expectations by 3 cents, a share.

More than a half million students and alumni are registered JOBTRAK users, and employers posted about 305,000 full-time, part-time, and internship opportunities on the site last year. The site claims more than 500,000 employer accounts.

"Since JOBTRAK's start in 1988, it has formed unique relationships with over 1,000 college and university career centers whose schools represent more than half of the 15 million college students in the U.S.," said Jeff Taylor, CEO of Monster.com.

JOBTRAK enables employers to target their job listings to students and alumni from specific campuses to ensure visibility within a highly qualified and motivated pool of candidates. It also creates and hosts national and college-specific virtual career fairs.

TMP reported that it earned $31.5 million, or 30 cents a share (excluding merger and acquisition costs), up from $18.3 million, or 21 cents a share, for the same period last year. Revenue was $339.2 million for the third quarter, up from $236.6 million a year ago.

TMP, with more than 8,200 employees in 29 countries, is also a large Yellow Pages advertising agency and a provider of direct marketing services.