Monster.com Acquires Recruiting Software Developer - HiringTools.com
Acquisition Enhances Monster's Offerings of Online Recruiting Resources for Employers
MAYNARD, Mass.--(BUSINESS WIRE)--May 8, 2001--Monster.com®, the leading global online careers site and flagship brand of TMP Worldwide Inc. (NASDAQ: TMPW), announced that it acquired privately held HiringTools.com, the quality leader in web-based human resources applications. The acquisition of HiringTools by Monster.com will be highly beneficial to Monster customers, who will gain access to a comprehensive suite of web-based tools. With Monster's broad customer base, HiringTools should be quickly adopted by thousands of employers eager to improve their recruiting process. The terms and conditions of the acquisition were not disclosed.
''HiringTools.com has garnered praise and recognition throughout the HR community for the quality of its recruiting products. We see the HiringTools acquisition as a significant value-add for Monster customers because the HiringTools product line makes some of the most tedious and difficult parts of the recruiting process quick and easy. Together, we will continue our shared vision of providing the most effective recruiting resources available,'' said Jeff Taylor, CEO of Monster.com. ''The acquisition of HiringTools is a great addition to Monster's vast array of online recruiting solutions.''
HiringTools is a suite of web-based applications that can be used by recruiters, hiring managers, and HR professionals to create comprehensive, up-to-date job descriptions, job postings, and interview plans. The tools make it easy for users to define a position and to customize job duties, qualifications, and interview questions to suit their needs. Each tool draws content from a huge database of information on job qualifications and duties, significantly cutting down on the amount of writing the user has to do to create job documents.
''In acquiring HiringTools, Monster.com once again distances itself from the competition, said Doug Jackson, CEO of HiringTools.com. By joining forces with Monster, we can revolutionize the productivity and effectiveness of thousands of recruiters worldwide. In addition, HiringTools has strong benefits for the customers of other divisions of Monster's parent company, TMP Worldwide Inc. Our whole team is very excited about joining the Monster/TMP family and becoming an integral part of the organizations' long-term global vision.''
The HiringTools product line has been integrated with Monster.com's Recruiter's Office site section and is currently being tested by approximately one hundred Monster customers before general release.
Hiring Tools' Feature Products:
- Job Description Writer provides HR managers with a faster, yet more accurate, way to define the skills, qualifications, and experience needed for a particular job. Users can draw from a database of 3,000 job titles and descriptions from entry level to executive positions - or customize their own. The database is continually updated to assure that users have the most current job information.
- Job Ad Writer creates compelling job postings in a fraction of the time it takes to do so manually. Hiring managers can choose from a vast library of content to help get their ad standout and be noticed.
- Interview Plan Builder generates incisive job interview questions and interpretations that help human resource personnel move beyond the standard interview questions to reveal the best candidates for the job.
Monster.com, headquartered in Maynard, Mass., is the leading global careers website, recording over 26.1 million unique visits during the month of March 2001 according to independent research conducted by I/PRO. Monster.com connects the most progressive companies with the most qualified career-minded individuals, offering innovative technology and superior services that give them more control over the recruiting process. The Monster.com global network consists of local content and language sites in the United States, United Kingdom, Australia, Canada, the Netherlands, Belgium, New Zealand, Singapore, Hong Kong, France, Germany, Ireland, Spain, Luxembourg, India, and Italy. More information about Monster.com is available at www.monster.com or by calling 1-800-MONSTER.
About TMP Worldwide
Founded in 1967, TMP Worldwide Inc., with more than 9,500 employees in 32 countries, is the online recruitment leader, the world's largest Recruitment Advertising agency network, and one of the world's largest Executive Search and Executive Selection agencies. TMP Worldwide, headquartered in New York, is also the world's largest Yellow Pages advertising agency and a provider of direct marketing services. The company's clients include more than 90 of the Fortune 100 and more than 480 of the Fortune 500 companies. More information about TMP Worldwide is available at www.tmp.com.
Special Note: The above statements include forward-looking statements based on current management expectations. Factors that could cause future results to differ from these expectations include the following: risks associated with acquisitions, competition and seasonality. Additional factors are described in the company's reports filed with the Securities and Exchange Commission.