Randstad, the world’s largest staffing firm, agreed to combine its Monster job board business with CareerBuilder’s job board business. CareerBuilder is a portfolio company of funds managed by affiliates of Apollo Funds.

“Through the combination of Monster and CareerBuilder, we bring together two trusted brands and best-in-class solutions to create a stronger job board for our talent and employers,” Monster CEO Scott Gutz said in a press release.

Existing CareerBuilder investors, including Apollo Funds, will hold a controlling interest in the joint venture. Randstad will retain a minority interest.

The deal is subject to customary regulatory approvals. It’s expected to close in the third quarter.

“Together we are stronger and better equipped to meet the evolving needs of the marketplace,” CareerBuilder CEO Jeff Furman said in a press release.

Randstad with Monster ranked as the 20th-largest provider of online job advertising in the world with online job advertising revenue of $211 million in 2023, according to SIA’s Online Job Advertising Market: 2024 Update report. CareerBuilder ranked as the 21st-largest with revenue of $200 million in 2023.

The transaction has no material financial impact for Randstad, the company reported. The management team of the combined entity will comprise senior leaders from both companies.

Branding for the combined business will be settled upon in the future.

Randstad acquired Monster in 2016.

Apollo, along with the Ontario Teachers’ Pension Plan Board, acquired a majority interest in CareerBuilder in 2017 from Tribune National Marketing Company and McClatchy Interactive West.