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Japan – Recruit to acquire German restaurant booking business

05 March 2015

Japanese recruitment juggernaut Recruit Holdings (6098: JP) announced that it has agreed to buy German online restaurant reservation service provider Quandoo for €198.6 million (USD 219 million), reports Reuters.

Recruit, which already owns 7.1% of Quandoo, will acquire the rest of the company, it said in a statement.

In January, Recruit announced plans to buy two Australian staffing firms, Chandler MacLeod and Peoplebank, for a total consideration of about AUD 360 million (USD 280 million). In recent years it has snapped up rivals like US staffing firms CSI, Advantage Resourcing, and Staffmark Holdings, as well as job board Indeed.com.

Recruit has been vocal in its ambition to become the largest HR services firm in the world by 2020. According to research from Staffing Industry Analysts, Recruit was the fifth largest staffing firm, based on 2012 revenue.

Aside from its staffing and job board interests, the company also operates a number of diverse online services covering IT & trends media, education, travel, beauty, housing, bridal, auto, dining and local information. The acquisition of Quandoo further diversifies the company’s online media portfolio.  

Recruit’s IPO in October 2014 raised roughly USD 2 billion, with about half earmarked for acquisitions.

Financial details of the acquisition were not released.