Company-review website Glassdoor Inc. will be acquired by Recruit Holdings Co. for $1.2 billion in cash, further extending Recruit’s global reach. The deal is expected to close this summer, subject to regulatory approvals and closing conditions, according to a Glassdoor press release.
Launched in 2008, Glassdoor is best known for giving users the opportunity to anonymously review their workplace. The San Francisco Bay Area-based company has around 59 million users each month and has accumulated data on more than 770,000 companies worldwide. Japan-based Recruit, an HR technology and staffing services company, employs more than 45,000 people in more than 60 countries.
This move is seen as a benefit and opportunity for growth on both sides.
“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 CEO and co-founder, in a statement.
“Glassdoor is an impressive company with strong leadership, mission, products, clients and employees. We are excited to help them continue to grow and deliver value to the job seekers and employers they serve,” said Hisayuki Idekoba, COO of Recruit and head of its technology segment, in a statement.
Hohman will continue to lead Glassdoor. Recruit plans to operate Glassdoor as a separate part of the HR business segment.
Recruit previously acquired well-known workplace site Indeed. The collaboration of these two job sites will help the company “meet challenges faced by both job seekers and employers,” according to a Recruit statement.
“I look forward to leading Glassdoor through this exciting new chapter, and to exploring way to use our combined resources and assets to benefit job seekers, employees and employers once the deal closes,” Hohman said in a statement.
Aysha Ashley Househ is a Workforce intern. Comment below or email email@example.com.