Dmgt acquires Jobrapido
Jobrapido, one of the world largest database for job seekers was founded in Italy in 2006 by Vito Lomele that is now the Chief executive officer of the company that has been acquired by Daily Mail and General Trust (DMGT).
A&N Media, the consumer media business of DMGT, has acquired Jobrapido, one of the world's largest job search engines. Jobrapido will be combined with A&N Media's existing digital recruitment group, which is now renamed as Evenbase in order to reflect the wider scope and international reach of the enlarged group.
This acquisition gives Evenbase - which includes Jobsite, OilCareers and Broadbean - access to one of the world's largest databases of job seekers and a global footprint with strong positions in a number of key international markets.
The completion consideration is €30 million. The Jobrapido management team is incentivised to enhance this valuation over the next few years through an earn-out arrangement based on achieving agreed financial and business performance objectives. Jobrapido achieved revenues of c. €24 million and profits of c. €6 million during calendar year 2011.