Recruit Co., the Japan-based HR and recruitment site giant Recruit Co is reported to have made a US$400 million offer to acquire Freelancer.com.
According to “sources close to the situation”, Recruit Co. has made a US$400 million offer to buy Freelancer.com, wrote Techcrunch. The acquisition is also said to be motivated by Recruit’s agenda to go for an IPO soon.
Recruit has been actively acquiring assets under its helm over the past 1 year. Back in September 2012, we first reported that Recruit acquired Indeed, one of the world’s leading job portal sites at a rumoured US$1.1billion. Earlier last month, the recruitment giant also acquired India-based executive search firm NuGrid for an undisclosed sum.
With over 80 different recruitment, e-commerce and publishing brands spanning travel, beauty, and education, Recruit has stated its aims to derive 50 percent of its revenues from overseas markets.
Read Also: CareerBuilder acquires Vietnam Online Network to expand reach
With a reported turnover of around US$10 billion, Recruit is one of the biggest classified advertisement, publication and human resources company in Japan. The company is also gunning for an IPO soon, rumoured to be happening this fiscal year.
Earlier last week, Japanese e-commerce giant Rakuten shook the world too with the acquisition of Viki for US$200 million. Shortly after the announcement, Recruit now looks to acquire Freelancer for a rumoured US$400 million. Looks like the Japanese have really deep pockets.
Read also: Japan-based Recruit acquires top job portal site Indeed
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