Online job site Monster.com announced its parent company, advertising and marketing group TMP Worldwide, has offered to buy Swedish online recruitment site Jobline International AG in a move designed to boost Monster.com's position in the European market.
In a statement, Maynard, Massachusetts-based Monster.com said TMP Worldwide is offering about $115.5 million in cash for Jobline International, whose board has recommended shareholders accept the offer.
Monster.com said the acquisition would give it a presence in Sweden, Norway, Denmark and Switzerland, boosting its number of European sites to 14 and international sites to 20.
Monster.com chief executive Mr Jeff Taylor said in a statement that the acquisition would be a tremendous step forward in the company's European expansion effort.
Monster.com is the online career management leader in the United States, France and the United Kingdom, he said, while Jobline is widely considered one of Europe's top online recruitment sites, holding either the number one or two position in several countries.
TMP Worldwide shares were down 17 cents at $62.82 in morning Nasdaq trade, the higher end of a 52-week range of $27.50 to $87.06.