Monster buys Yahoo's HotJobs for $225 million
Another divestiture for Yahoo will result in an upfront cash payment and three-year exclusive deal with Monster to supply job search listings on Yahoo's home page.
Yahoo has shed another property deemed expendable by CEO Carol Bartz, selling HotJobs to Monster for $225 million.
Part of the deal includes a provision that installs Monster as the exclusive provider of job ads on Yahoo's home page for three years in the U.S. and Canada, according to a joint press release. In addition, Yahoo will receive annual payments from Monster based on traffic metrics, allowing it to bank some job-search related revenue for a few years without having to actually run the operation.
"The sale of Yahoo HotJobs to Monster, and the three-year traffic agreement with Monster, represent an attractive opportunity for Yahoo," it said in a statement. "The transaction will provide Yahoo with an upfront cash purchase price of $225 million; the ability to focus more on its core business and delivering exceptional experiences to its users, partners and advertisers; and the opportunity to drive longer-term value through the traffic agreement by allowing Yahoo to continue to generate revenue from the online recruiting space while continuing to provide users with valued online career and recruiting services."
at Yahoo, which has amid a focus on Yahoo's "core" assets as determined by Bartz: content and technology. But Yahoo might actually be easing back on divestitures such as Zimbra and HotJobs in favor of smaller acquisitions, .
Yahoo and Monster don't expect the deal to close until the third quarter of this year. The content and traffic deals won't begin until the deal is official.