Tapping into Greece’s online job industry is crucial to access nearby markets, including the Balkans and Italy, says Farhan Yasin, president of CareerBuilder’s international group, as CareerBuilder moves ahead with international expansion plans. The deal was announced Tuesday, October 16. Financial terms of the acquisition were not disclosed.
CareerBuilder found Kariera an attractive acquisition for various reasons, including a senior leadership group with a similar philosophy.
“There is a good cultural fit between the two companies,” Yasin says. “It will allow us to be successful in attaining our goals.”
Founded in 1997, Kariera was an appealing target. Besides being Greece’s No. 1 generator of online ad revenue, it has several successful divisions, such as its executive seminar group, and sponsors the nation’s largest career fair.
As is customary with all of its European acquisitions, CareerBuilder will be responsible for providing technical support. The Kariera name and brand, as well as the corporate leadership, will remain unchanged, Yasin explains.
CareerBuilder has an international expansion strategy, yet so far much of its attention is on Europe, since it’s the world’s second largest online recruiting market after the United States. Europeans are expected to spend $1 billion on online recruiting in 2007.
Besides its presence in the U.K., the company acquired job boards in Sweden and the Netherlands this year. CareerBuilder says it hosts more than has 3 million monthly unique visitors in Europe.