Monster Asia has taken over Delhi-based JobsAhead.com. The deal has been finalised for a sum of around Rs 40 crore. Revealing this information to mediapersons today, Arun Tadanki, President & MD of Monster Asia, said now JobsAhead.com and Monster India will function as an integrated entity called Monster.
Speaking on the occasion, Puneet Dalmia, Chairman, JobsAhead.com, said their company has eight offices across the country and employs around 135 people. An annual turnover of over Rs 8 crore was recorded this fiscal which included a cash profit of over Rs 3 crore. A database of 25 lakh resumes exists on the website. The integration of business with Monster Asia will further enhance the growth of online jobs business in the country, he said.
Stuart J McKelvey, President, Directional Marketing, Monster Worldwide, said this is the first acquisition of the company in the Asia and it falls in line with three other acquisitions which the company has recently made. These include military.com and tinkle.com in the US and jobspilot.com in Europe. A growth of 65 per cent is anticipated in the Asia business this year with the acquisition, he said.
Monster has a database of around 16 lakh resumes on its website in India and has six offices across the country employing around 75 people. Sectors like IT, telecom and retail happen to be major contributors to this growth. Asia will contribute significantly to the annual turnover of the company of $ 750 million in the coming years, Stuart said.