Johncom ups Career Junction stake
The acquisition of a further 25% of Career Junction from permanent recruitment services and flexible staffing sector company Adcorp Holdings, (ADR) will raise Johncom’s shareholding to 85%. Management owns the other 15%.
CareerJunction, which is 10 years old, is the leader in online recruitment services in South Africa and owns approximately 70% of the overall online recruitment market measured in terms of unique visitors, business volumes and number of clients.
Over the last four years CareerJunction’s popularity has grown on average 45% compounded. Today CareerJunction enjoys over 270,000 unique visitors per month who spend over 15 minutes on average using its services in a variety of ways. Agencies and Employers alike have received significant value from its services and provided thousands of people new career opportunities.
Today, there are over 670,000 registered users (mostly South African) of CareerJunction.
Mike Robertson, CEO of Johncom’s Media Dvision, says: "The purchase of Adcorp’s interest positions Johncom as the leading company in online recruitment services in South Africa and complements our successful presence in recruitment advertising in the Sunday Times, Sowetan, Sunday World and in our Eastern Cape newspaper titles the Herald and Daily Dispatch."
Richard Pike, CEO of Adcorp Holdings, says: "The disposal of Career Junction is in line with the Adcorp Group strategy of streamlining the Group and focusing on our core competencies. Career Junction is an extremely successful business and our Group will continue to work with the Career Junction team."
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