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News Release
Contact: Alli Ross
The Weber Group
617-520-7086
Emily McKittrick
Monster.com
978-461-8715
emckittr@monster.com
End-to-End Recruiting Solution Strengthens Monster.com's Dominance as a Complete Career Operating System
Maynard, MA – June 12, 2000 –Monster.com, the leading global online careers site and flagship brand of TMP Worldwide (NASDAQ: "TMPW"; ASX: "TMP"), today announced it has acquired privately held Simpatix Inc., a highly touted e-cruiting Application Service Provider (ASP). The terms and conditions of the acquisition were not disclosed.
The acquisition of Simpatix extends market-leader Monster.com's dominance to the human resource professional and hiring manager's desktop, giving the company ownership of a significantly greater portion of the recruiting process. With its global reach and multiple distribution channels across TMP recruitment divisions, the move positions Monster.com as a leading end-to-end online recruiting solution.
“Simpatix technology enables Monster.com clients to streamline the identification, evaluation and hiring of the best talent,” said Jeff Taylor, Monster.com CEO. “Our customers have been so successful with Monster.com's current products that they have asked us for even more help in managing the flow of resumes and their overall recruiting needs. With this acquisition we can now offer an easy-to-use, low-cost system that maximizes their recruiting ROI. Additionally, we plan to build dominant market share by giving away a basic version of Simpatix technology.”
A fully Web-based service, Simpatix provides HR professionals and hiring managers with the tools to manage the hiring process – from posting and screening to pinpointing top candidates to analyzing the overall effectiveness of a company's recruiting activities. Simpatix' intelligent screening technology helps companies manage volumes of resumes by automatically ranking candidates based upon criteria the company defines for each position. The technology also enables customized searches on a company's existing resume database. Because the service is browser-based, customers avoid the expense and hassles that come with buying, installing, and maintaining a technology infrastructure, and they can use the system from home, on the road, or anywhere they can access the Web.
Simpatix lets HR professionals and hiring managers:
· Create a private label recruiting center on their corporate Web site and easily manage their own job postings
· Capture resumes and applicant data into a private, company-wide database without the need for IT assistance
· Utilize fully customizable online questionnaires to gather expanded information on applicants, pinpointing top talent in seconds
· Quickly perform time-consuming administrative tasks such as correspondence, appointments and notifications
· Automatically track all recruiting activity
· Eliminate copying, routing, sorting, and filing resumes
· Analyze ROI on various recruiting activities such as sourcing, time to hire, and cost per hire
“With this acquisition, Monster.com is once again leading the way in innovating the online careers space,” added Linda Natansohn, senior vice president of Ventures at Monster.com. “As the dominant career network, and one of the few profitable, high-growth Internet players, Monster.com is in a unique position to acquire complementary businesses that accelerate the growth of our career operating system.”
“Today's announcement is great news for Simpatix' and Monster.com's customers because it provides them with an exceptionally seamless recruiting solution – the most comprehensive online career site for finding qualified candidates, and a Web-based solution to manage candidates as well as the entire hiring process more effectively,” said Gonzalo Santos, co-founder, Simpatix Inc.
The Simpatix solution will be sold through Monster.com's sales channel and through TMP's recruiting businesses.
About TMP Worldwide
Founded in 1967, TMP Worldwide Inc., now with more than 7,600 employees in 29 countries, is the online recruitment leader, the world's largest recruitment advertising agency network, and one of the world's largest search and selection agencies. TMP Worldwide Inc., 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.
About Monster.com
Monster.com, headquartered in Maynard, Mass., is the leading global careers Web site with over 15.2 million unique visits per month, according to independent research conducted in April 2000 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, Ireland and Germany. More information about Monster.com is available at www.monster.com or by calling 1-800-MONSTER. Monster.com is the flagship brand of the Interactive Division of TMP Worldwide Inc. (NASDAQ: "TMPW"; ASX: "TMP").
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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.
