TCS Capital Management LLC acquired a large stake in the DHI Group Inc. (NYSE: DHX), which operates Dice.com and other job boards, according to a filing with the US Securities and Exchange Commission. The hedge fund also expressed interest in a cash buyout.

The filing stated that TCS informed DHI’s chairman of its “willingness to acquire the Issuer in cash or alternatively, to acquire a significant position in the Issuer through a tender offer or open market transactions, and with an attendant agreement for significant Board representation.”

TCS Management is the investment manager of TCS Advisors, which directly owned about 5.0 million shares in DHI, approximately 9.7% of outstanding shares, as of May 24.

DHI in May 2017 announced its intention to divest four of its non-tech businesses as part of a strategy to focus on its core business, and its sale last week of hospitality jobs website Hcareers for $16.5 million substantially completed that divestiture process. The company sold its Health eCareers business in December for $15.0 million. It sold RigLogix — the data services division of its Rigzone business — on Feb. 20; and transferred majority ownership of BioSpace to BioSpace management on Jan. 31, with DHI retaining a minority stake.

First-quarter revenue fell 17.5% at DHI; this includes an 11.3% decline in Dice.com, its largest segment. The company named a new CEO in April.