Monster Worldwide (NYSE: MWW) announced Wednesday that the company has acquired Yahoo! HotJobs from Yahoo! (NASDAQ: YHOO) for $225 million in cash.
Monster and Yahoo! have also entered into a three year commercial traffic agreement, which will take effect upon the closing of the acquisition.
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According to the agreement, Monster will become Yahoo!‘s provider of career and job content on the Yahoo! homepage in the United States and Canada.
Based on Media Metrix comScore (NASDAQ: SCOR) reporting, last year HotJobs averaged 12.6 million unique visitors per month.
With the addition of HotJobs’s network of more than 600 daily and weekly newspapers, Monster’s alliances with local papers will grow to a total of approximately 1,000, giving Monster reach in all 50 states.
Stone Key Partners LLC and Bank of America Merrill Lynch acted as financial advisors to Monster in connection with this transaction. Allen & Company LLC provided a fairness opinion to Monster’s Board.
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