Internet Gold (Nasdaq: IGLD) together with MSN-Israel, has signed a strategic agreement with online employment company Redmatch, to jointly develop a new Hebrew language employment site.
MSN-Israel is jointly owned by Internet Gold (50.1%) and Microsoft (49.9%).
The new site will be owned jointly by the two companies (50.1%-MSN-Israel and 49.9%-Redmatch). It will be hosted and promoted on the MSN-Israel portal and launched during the next few months.
In August 2004, "BusinessWeek" cited Israeli company Redmatch as an emerging competitor to Monster.com, the world's largest online employment site.
MSN-Israel CEO Uri Adoni said, "We are delighted to join with Redmatch in bringing its proven model to the local market. We are confident that this venture will produce a high value-added service offered for a reasonable fee, and that it will attract a wide community of employers and job seekers to the site itself as well as to the MSN-Israel portal. As such, I believe it will become a significant driver of our future revenues."
Redmatch president and COO Daniel Avidor said, "We have chosen MSN-Israel as our Israeli partner due to the visibility of its brand name and its openness to entrepreneurial initiatives. We are confident that the Redmatch business model that has proven so successful in Europe and the US will be equally successful in Israel."
Published by Globes [online], Israel business news - www.globes.co.il - on Sunday, July 24, 2005