Indeed Acquires Resume.com
June 19, 2018 – Job aggregator Indeed recently acquired Resume.com, an online service for creating personalized resumes. Financial terms of the deal were undisclosed. Over 3.5 million job seekers use Resume.com, creating more than 40,000 resumes every week, and accessing timely career resource information. Indeed will continue to operate resume.com and enable job seekers to build, download, and print personalized resumes for free.
“Resume.com provides job seekers with a vital resume service and career tools to aid in their job search,” said Raj Mukherjee, senior vice president of product at Indeed. “We’re excited to add this site to Indeed’s offerings as it aligns perfectly with our mission of helping people get jobs.”
Resume.com was founded in 2014. It provides tools to help job seekers build and customize resumes. Prior to Indeed acquiring the site, resume.com charged users a monthly fee for downloading and printing resumes. Indeed is discontinuing the fees. Resume.com employees will join Indeed and continue to operate from Vancouver, Canada.
Recent Recruiting Company Deals
Related: Hunt Scanlon’s Top 15 Acquisition Stories of 2017
Glassdoor, renowned for its employee reviews of businesses as well as salary information, will become “a distinct and separate part” of Recruiting Holdings’ expanding HR technology business segment. The sale is expected to close this summer. Regulatory approvals and closing conditions will also apply.
“Joining with Recruit allows Glassdoor to accelerate its innovation and growth to help job seekers find a job and company they love while also helping employers hire quality candidates,” said Robert Hohman, Glassdoor’s CEO and co-founder, who will continue to lead the company. “I look forward to leading Glassdoor through this exciting new chapter, and to exploring ways to use our combined resources and assets to benefit job seekers, employees and employers once the deal closes.”
Alexander Mann Solutions to be Acquired by OMERS Private Equity for $1.1 Billion
OMERS Private Equity, the private equity investment arm of OMERS, has entered into an agreement with New Mountain Capital to acquire Alexander Mann Solutions, a London-based talent acquisition and management services firm, for $1.1 billion.
Among its properties, Recruit Holdings acquired Indeed six years ago for a price, some estimate, to be close to $1.5 billion. Hisayuki Idekoba (Deko), chief operating officer and head of the technology segment for Recruit Holdings, said the company has no plans to integrate Glassdoor and Indeed, but that they might join forces on “specific challenges” down the line.
Related: Marlin Hawk Acquires Winter Circle
Rival Deal
Last year, Amsterdam-based human resource services provider Randstad Holding completed its acquisition of Monster. Under the terms of that deal, Randstad paid $3.40 per share in cash, or a total purchase price of approximately $429 million. Randstad intends to extend and build upon a comprehensive portfolio of HR services. Randstad, which reported $21.3 billion in revenues last year, currently has a presence in 39 countries and employs around 29,000 staff worldwide.
“In an era of massive technological change, employers are challenged to identify better ways to source and engage talent,” said Jacques van den Broek, chief executive officer of Randstad. “With its industry leading technology platform and easy to use digital, social and mobile solutions, Monster is a natural complement. The transaction is aligned with our tech and touch growth strategy and reflects our commitment to bringing labor supply and demand closer together to better connect the right people to the right jobs. We look forward to welcoming the Monster team and working together to shape the evolving global job industry.”
Some industry insiders, however, see it differently. “We believe Recruit Holdings passed over Monster in favor of Glassdoor’s more relevant and future-forward platform, which includes pay data and company reviews based on job-seekers’ perspectives,” said Dale Zupsansky, chief market strategist and editor-in-chief at Hunt Scanlon Media. “What Monster’s newly named CEO will do with the brand will unfold very quickly now, pushed into overdrive by this week’s stunning M&A news.”
Related: ADP Acquires WorkMarket
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Will Schatz, Managing Editor – Hunt Scanlon Media
