Saongroup acquires Monster's Chinese operation
Denis O'Brien's recruitment group is looking to boost revenues in China
Saongroup, the online recruiter majority owned by Denis O’Brien, has acquired Monster’s China operation, ChinaHR.com, for an undisclosed amount.
Monster Worldwide will retain a ten per cent shareholding in the combined China business of Saongroup and the agreement takes place with immediate effect. Monster had previously announced its intention to divest its operation in China.
Saongroup already has a comprehensive national network of offices and websites in tier two, three and four cities throughout China and the addition of ChinaHR boosts this network to almost 200 cities across the country, whilst also giving it a strong presence in the tier one cities of Beijing, Shanghai, Guangzhou and Shenzhen.
“ChinaHR is an excellent match with Saongroup China. Its blue chip client list and strong tier one city presence complements Saongroup’s robust online platform and pan-China reach. The acquisition of ChinaHR repositions Saongroup as a market leader and leaves us well positioned to accelerate our growth in the Chinese market.” said Ciaran McCooey, group chief executive officer of Saongroup.
Saongroup.com is a global online recruitment company with operations across four continents – Europe, Africa, Asia and the Americas – and websites live in 30 countries. Irishjobs.ie is its domestic trading entity.
Saongroup is 75 per cent owned by Mr O’Brien, with chairman Leslie Buckley owning the balance.