Hebrew daily "Yediot Ahronot" news site ynet has acquired 75% of jobs portal AllJobs. The deal was closed after the Antitrust Authority today decided that the acquisition would not harm competition in the sector. Sources close to the deal said that ynet paid NIS 30 million for the stake.
In late 2007, Russian online jobseeker company Headhunter acquired 20% of AllJobs at a company value of NIS 50 million. Headhunter later increased its stake to 75%, which ynet is now buying.
ynet operates its own jobs portal, yjobs.
AllJobs CEO Revital Handler, chairman Herzl Ozer, and others founded the company in 2004. Ozer owns 10% of the company. AllJobs claims that its site offers 37,000 positions, and that it aggregates all positions offered on 1,800 Israeli websites and newspapers.
According to the TIM monthly Internet survey for July, the most popular jobs portal was Drushim, with a weekly exposure rate of 46%, followed by AllJobs with 39%, and Yad2 and Jobnet with 36% each. Yjobs had a weekly exposure rate of 26%.
Published by Globes [online], Israel business news - www.globes-online.com - on August 27, 2009
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