Jobs Site Glassdoor Snapped Up by Japanese Firm in $1.2 Billion Deal

Jobs Site Glassdoor Snapped Up by Japanese Firm in $1.2 Billion Deal

Online jobs portal Glassdoor Inc. mentioned late Tuesday it agreed to be purchased by Japan’s

Recruit Holdings

6098 3.17%

for $1.2 billion in an all-cash deal, the most recent in a string of abroad acquisitions by Japanese firms.

Tokyo-based Recruit Holdings, a human-resources firm, plans to function privately held Glassdoor, which launched in 2008, as a separate a part of its rising HR expertise enterprise phase, Glassdoor mentioned in a information launch. Aside from providing jobs and recruiting companies, Glassdoor permits the posting of worker evaluations of firms.

The settlement got here arduous on the heels of Japanese drugmaker

Takeda Pharmaceutical

TKPYY -0.10%

$62 billion deal for European rival Shire PLC, which tops

SoftBank Group

9984 0.73%

$32 billion acquisition of U.Ok. chip designer ARM Holdings PLC two years in the past as the biggest abroad deal by a Japanese firm.

“I look forward to leading Glassdoor through this exciting new chapter, and to exploring ways to use our combined resources and assets to benefit job seekers, employees and employers once the deal closes,” mentioned

Robert Hohman,

Glassdoor’s chief government and co-founder, in the discharge. Mr. Hohman will proceed to steer the corporate following the deal, Mill Valley, Calif.-based Glassdoor mentioned.

“Glassdoor presents a powerful platform that is changing how people find jobs everywhere,” mentioned

Hisayuki Idekoba,

Recruit’s chief working officer and head of its HR tech unit, in the discharge.

The deal is anticipated to shut this summer season and is topic to regulatory approvals and shutting situations, Glassdoor mentioned.

Qatalyst Partners is performing as unique monetary adviser to Glassdoor and Gibson, Dunn & Crutcher is its authorized adviser. Goldman Sachs & Co. LLC served as unique monetary adviser and Sullivan & Cromwell LLP offered authorized counsel to Recruit.

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