Expanded Joint Venture with Alma Media Creates Premier Online Career Service in Region

07/11/2013 — NEW YORK — (BUSINESS WIRE)

Monster Worldwide, Inc. (NYSE:MWW) today announced the expansion of its Finnish joint venture with Alma Media to include Eastern Europe and the Baltics creating a new regional career services leader. The collective capabilities and focus of these two companies, along with additional investment, will enable stronger market development and greater client benefit across the region.

The joint venture, to be renamed Alma Career Oy, will now include the following:

• Remaining in the Joint Venture – Monster Finland, the market leader in Finland, will remain in the joint venture and will continue to operate using the Monster name and technology platform;
• Alma Media Contributions – Alma Media will contribute businesses comprising the market leaders in the Czech Republic, Slovakia, Croatia and the Baltic countries of Estonia, Latvia and Lithuania;
• Monster Contributions – Monster will contribute its online careers operations in the Czech Republic, Hungary and Poland, all of which will continue to operate using the Monster name and technology platform.

Consequently, Monster will become a 15 percent minority owner of Alma Career Oy, with Alma Media owning the other 85 percent. Monster has an option to increase its ownership to 20 percent by 2017. The transaction is expected to close in early 2014.

“Monster and Alma are building upon our historically successful relationship to create comprehensive service offerings throughout Eastern Europe and the Baltics,” said Andrea Bertone, Executive Vice President, General Manager Europe and North America Sales, Monster Worldwide. “This is a winning combination, delivering world-class career marketplaces and an expanded advertising footprint across the region, providing a new level of service and wider talent pool reach to greatly benefit our local and global clients.”

“Widening the already fruitful cooperation with Monster is a great continuation to our strategy. Alma Media will continue its current operations with existing brands and technologies, but will also be able to benefit from the Monster technology, service concepts and the sales network in the chosen market areas. Monster Worldwide will be able to grow its global network with our market leading services,” said Raimo Mäkilä, Senior Vice President of Alma Media’s Marketplaces business unit.

About Alma Media

Alma Media is a media company focusing on digital services and publishing. In addition to news services, the company’s products provide useful information related to lifestyle, career and business development. The services of Alma Media have expanded from Finland to the Nordic countries, the Baltics and Central Europe. The company employs approximately 1,900 professionals (excluding distributors), of whom over 20% work outside Finland. Alma Media’s revenue in 2012 totaled approximately MEUR 320. Alma Media’s share is listed on NASDAQ OMX Helsinki. Read more at www.almamedia.com.

About Monster Worldwide

Monster Worldwide, Inc. (NYSE:MWW), is the global leader in successfully connecting job opportunities and people. Monster uses the world’s most advanced technology to help people Find Better, matching job seekers to opportunities via digital, social and mobile solutions including monster.com®, our flagship website, and employers to the best talent using a vast array of products and services. As an Internet pioneer, more than 200 million people have registered on the Monster Worldwide network. Today, with operations in more than 40 countries, Monster provides the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities globally. For more information visit about-monster.com.

 

CONTACT:

Monster Worldwide
Matt Anchin, +1-212-351-7528
Senior Vice President, Global Communications
matt.anchin@monster.com

 

KEYWORDS:   United States  Europe  North America  Finland  New York

INDUSTRY KEYWORDS:   Technology  Internet  Professional Services  Human Resources

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