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Denmark – Jobindex acquires two more firms

03 March 2014

Danish job board Jobindex (JOBNDX: CPH) announced today the acquisition of the Danish arm of international job board StepStone and its sister company it-jobbank. Both companies are currently owned by the German multimedia company Axel Springer.

Financial details of the transactions were not released.

Kaare Danielsen, CEO of Jobindex commented: “We have gathered together the three strongest brands in Denmark for jobseeking and recruitment into a partnership, which will give both companies and jobseekers more and better opportunities in the future.”

“The Danish market for job advertising, job search, and recruitment is one of the most innovative and competitive in Europe. Jobseekers have many opportunities to find and apply for jobs, as well as marketing themselves in CV databases etc. and the companies have many options to choose from when they need to recruit employees.”

“With Jobindex, StepStone, and it-jobbank we have three strong organisations that we will develop in future. Therefore, StepStone, it-jobbank, and Jobindex will continue as separate companies and brands, to ensure that the offerings and possibilities are not diminished, quite the contrary,” Mr Danielsen added.

Bettina Ravn, CEO of StepStone and it-jobbank will remain in her position following the acquisition. She commented: “Companies and jobseekers will continue to see Jobindex as Denmark’s largest and broadest jobs database with over 10,000 current job posting, while StepStone will continue as a specialist in leadership and career positions, and it-jobbank will retain its focus on IT jobs.”

Mr Danielsen concurred: “We believe in synergy, but we have no plans to merge the three companies together, and customers will continue to meet the same people and work together in the same way, as they know it today.”

With the acquisition of StepStone and it-jobbank, Jobindex has amended its earnings guidance for 2014. The company now expects to report revenue of DKK 190 million (€25.5 million) and DKK 20 million (€2.7 million) in EBIT, compared with previous estimates of DKK 160 million (€21.4 million) and DKK 30 million (€4 million), respectively.

Last year, Jobindex acquired ComputerWorld and IDG Denmark as part of its growth strategy.

In trading today, the company’s share price remained unchanged at DKK 368 (€49.31), a fall of -10.8% compared with a year ago. Based on its share price, the company has a current market value of DKK 331.2 million (€44.4 million).       

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