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Japan – Recruit Co. Holdings reportedly proposes takeover of Freelancer.com

10 September 2013

Japanese human resources and job site firm Recruit Co. Holdings Ltd has made a takeover bid of AUD 432 million (USD 400 million) for Freelancer.com, the Australian online job outsourcing platform, according to the AustralianFinancial Review.

Although Recruit Co. Holdings’ policy is not to comment on rumour or speculation and Freelancer has declined to comment, the Australian Financial Review is reporting that sources close to the deal have confirmed the offer.

Recruit Co. Holdings, one of the largest staffing providers in the world, has made several acquisitions in its staffing division in recent years. It acquired Staffmark Holdings Inc. and Advantage Resourcing Group in 2011 — both firms ranked Staffing Industry Analysts’ lists of largest staffing firms. Recruit also acquired The CSI Companies Inc., which is based in Florida, in 2010.

Freelancer was first formed in the Australian market, aiming to match freelance workers with organisations or individuals wanting to outsource their work. Now a global company, it has already posted of AUD 1.1 billion (USD 1 billion) worth of work.  

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