Monster to buy Yahoo's jobsite

Monster to buy Yahoo's jobsite

New York: Online career and recruiting firm Monster Worldwide has announced that it will acquire Yahoo's jobsite HotJobs for $225 million, which will be paid in cash.

Both the firms have also entered into a three-year 'commercial traffic agreement' in which Monster would become provider of career content on Yahoo's home page in the U.S. and Canada, reports PTI. The transaction is expected to close during the third quarter of 2010. Yahoo! has been cutting cost and closing its underperforming businesses like the GeoCities Web-hosting site.

The company also sold its e-mail technology unit Zimbra to VMware for an undisclosed amount. Yahoo said it "remains focused on its core businesses and delivering exceptional experiences to users, partners and advertisers." Yahoo had acquired HotJobs in 2002 for $436 million.

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