Giant job-hunting portal Monster Worldwide has been acquired by Dutch HR resources and recruitment firm Randstad Holdings, for $429 million.

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“In an era of massive technological change, employers are challenged to identify better ways to source and engage talent,” said CEO of Randstad, Jacques van den Broek, in a statement. “With its industry-leading technology platform and easy to use digital, social and mobile solutions, Monster is a natural complement to Randstad. The transaction is aligned with our Tech and Touch growth strategy and reflects our commitment to bringing labor supply and demand closer together to better connect the right people to the right jobs. We look forward to welcoming the Monster team and working together to shape the evolving global job industry.”

According to their Q1 Report, Monster is enjoying a strong base of new users and social profiles. As Monster continues to grow in the job-hunting space, they will continue to keep their branding and operate with Randstad as a parent company. The acquisition will be completed by fourth quarter 2016.

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