SThree Group plc (SThree) has sold its online platform, The IT Job Board, to Dice Holdings Inc. (Dice), a leading provider of specialized websites for professional communities. Dice has purchased the outstanding shares of Jobboard Enterprises Ltd, the corporate entity of The IT Job Board, for an initial consideration of US$15.5 million. Additional consideration up to a maximum of US$3.5 million is payable upon the achievement of certain financial targets ending in 2014.
The IT Job Board simplifies IT job searches through a network of tech career sites spanning the UK, Germany, Belgium and Holland and the strength of the company’s technology platform and database have been key drivers of growth.
Dice Holdings Inc. is a leading provider of specialized websites for professional communities including technology and engineering, financial services, energy, healthcare and security clearance. It provides customers with access to high-quality, unique professional communities and offers those communities access to highly relevant career opportunities and information, serving markets in North America, Europe, Asia and Australia. The acquisition allows Dice to expand into new markets, create more growth opportunities and better serve its global customers.
SThree was founded in 1986 and is the parent company of various organically grown recruitment brands including Computer Futures, Progressive Recruitment, Huxley Associates and Real Staffing Group. Its subsidiaries specialize in ICT, engineering and energy, pharmaceuticals and biotechnology, banking and accountancy and finance recruitment services.
Oaklins Cavendish, based in the UK, advised the seller in this transaction. Our team focused exclusively on potential international buyers as they would offer the best strategic fit. This transaction illustrates the debate in the sector at the moment about whether online recruiters work best as standalone businesses or can be equally effective as part of recruitment companies.
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