Monster Buys Yahoo! HotJobs

It was only a matter of time. Monster Worldwide has just announced a deal to buy Yahoo! HotJobs for US$225 million.

Monster explains it is also entering a three-year commercial traffic agreement in which it will become Yahoo!’s provider of career and job content on the Yahoo! homepage in the US and Canada.

“The traffic agreement calls for performance based annual payments calculated by clicks and expressions of interest, subject to annual floors and ceilings,” Monster explains. “In addition, the traffic agreement provides Monster with an exclusive right for a period of time following the closing of the acquisition to negotiate similar traffic agreements with Yahoo! properties on a global basis, including countries in Europe, Asia and Latin America, subject to certain limitations.”

The news comes after almost a year of speculation over the future of HotJobs, and a recent statement by Yahoo! CEO Carol Bartz that the jobs search engine was available for a “decent” price.

“The transaction with Monster enables us to continue to provide an important service to our users through the traffic agreement,” said Yahoo! executive vice president Hilary Schneider. ”Yahoo! remains focused on its core businesses and delivering exceptional experiences to users, partners and advertisers.”

News of the sale comes just as Monster reports another decline in revenue – a drop of 27 percent to $213 million – for the fourth quarter of 2009 compared to Q4 2008. This is the fifth consecutive quarter when Monster’s revenue has declined compared to 2008 totals. Full year revenue was also down 33 percent to a total of $905 million compared to $1.3 billion in 2008.

Sal Iannuzzi, chairman, president and chief executive officer of Monster Worldwide, remained optimistic about the results, saying: ”We ended the year with a strong sales quarter as our major geographic markets showed signs of continued stability and improvement.”

Yahoo! also saw decreased revenue in the fourth quarter of 2009 with a 4 percent drop over 2008 totals, however this was a better result than the company had been expecting.

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