The purchase price consists of initial consideration of $6.0 million in cash and additional consideration to a maximum of $3.0 million payable upon the achievement of certain goals.
Launched in 2000 and based in Dubai with offices in other places like UK, Houston and Netherlands, WorldwideWorker has 12 employees and a database of 400,000 energy professionals. They had $2 million revenue in 2009 and are profitable.
More details from their release follows
Dice Holdings, Inc. (NYSE: DHX), a leading provider of specialized career websites for professional communities, today announced it has completed the purchase of the online and career events-related businesses of WorldwideWorker, a global leader in recruitment for the energy industry.
"The acquisition of WorldwideWorker delivers on two important parts of our growth strategy: international growth and new vertical expansion," said Scot Melland, Chairman, President & CEO of Dice Holdings, Inc. "WorldwideWorker is a well-regarded player in the highly-attractive energy sector. The global nature of the energy business allows us to leverage both our cross-border recruiting expertise and our international infrastructure."
Based in Dubai, WorldwideWorker is widely known for its extensive international resume database and its recruitment events held at industry-leading conferences. More than 400,000 energy professionals have registered with WorldwideWorker and two-thirds of those are based in Asia, Africa or the Middle East. Nearly half of WorldwideWorker's candidates have at least ten years experience.
"Our common goal is to help hiring managers and recruiters find the best possible talent most efficiently. Speed-to-hire is critical in the energy industry," said Frederik Rengers, CEO of WorldwideWorker. "Pairing the experienced Dice team with our extensive energy-industry knowledge will drive the growth of WorldwideWorker and deliver significant value to our customers."
The purchase price consists of initial consideration of $6.0 million in cash. Additional consideration to a maximum of $3.0 million in cash is payable upon the achievement of certain operating and financial goals over the next two years.
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