DMGT has agreed the sale of jobsite to StepStone

StepStonedmg media has agreed the disposal of its job board business, Jobsite, to StepStone, an Axel Springer business. The parties will be seeking approval of the transaction by the Competition and Markets Authority prior to completion and it is expected to complete in the final quarter of calendar 2014.

Kevin Beatty, CEO of dmg media, said: “Jobsite has grown successfully since dmg media acquired the business in 2004. Following the disposal of OilCareers, Broadbean and Jobrapido in March and April 2014, this transaction will complete dmg media’s disposal of Evenbase and exit from the digital recruitment market, enabling dmg media to increase its focus on the core Mail businesses.”

During the year to 30 September 2013 the total revenues from Evenbase were £78million and total operating profits were £11 million. Total proceeds from thedisposal of Evenbase, including OilCareers, Broadbean and Jobrapido, are expected to be £150 million.