Axel Springer buys British job portal
Axel Springer is becoming the largest online job provider in the UK with an acquisition. The subsidiary Step Stone is taking over the Totaljobs Group for around 132 million euros, the Berlin-based media group announced on Wednesday.
Totaljobs operates the leading British online job provider of the same name as well as other portals. With the acquisition of the Totaljobs Group, Step Stone will be the "clear number one" on the British job market in future, said Jens Müffelmann, Head of Electronic Media at Springer.
The acquisition of Totaljobs is the first transaction under the umbrella of Axel Springer Digital Classifieds, which was only formed in March. The subsidiary, in which the US financial investor General Atlantic holds a stake, combines the activities of the online advertising businesses of Seloger.com, Immonet and Stepstone. (SDA/RTD)
