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Dice acquires energy job site

March 19 2014

Job board operator Dice Holdings Inc. (NYSE: DHX) acquired Scotland-based OilCareers, a recruitment site for oil and gas professionals in Europe. The acquisition strengthens the company’s position in online energy recruiting, which it currently serves in the United States through Rigzone, a provider of content, data, advertising and career services.

Dice purchased OilCareers from the Daily Mail and General Trust PLC (LON: DMGT) for $26 million in cash. The transaction closed Tuesday.

“The growth prospects are very promising for our energy vertical and the addition of OilCareers will help us capitalize faster on that opportunity,” said Dice President and CEO Michael Durney. “Our energy vertical has grown to more than double its size from our acquisition of the businesses three years ago. This acquisition is an opportunity to move forward in Europe. OilCareers is a good strategic fit and provides critical mass for both brands to leverage.”

OilCareers had revenue of approximately $8 million in the trailing 12 months, the majority of which was generated in the United Kingdom.

The company intends to keep both brands, which will operate as a team but with different value propositions, said Jennifer Bewley, vice president of investor relations and corporate communications for Dice Holdings.

Mark Guest, managing director of OilCareers, will take on a broader role in management outside North America in Dice’s energy vertical.

OilCareers was founded in Aberdeen, Scotland in 1999 and has about 800,000 monthly visitors; OilCareers and Rigzone combined will deliver nearly 3 million visitors a month, according to Bewley.

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