Saongroup expands Chinese operations with acquisition of ChinaHR.com
Published 05/02/2013 | 16:01
Dublin-based recruitment company Saongroup said today that it has expanded it Chinese operations with the acquisition of a majority stake in ChinaHR.com.
The Dublin-based company bought the stake in ChinaHR.com from New York-based Monster Worldwide. The US company will keep a 10pc holding in a new Chinese recruitment group which will combine Monster’s Chinese operations and Saongroup’s Chinese business.
The companies declined to put a value on the deal. Monster Worldwide is set to report its fourth quarter earnings on Thursday with most analysts predicting sales of around $900m.
Saongroup already has a large network of offices and websites in hundreds of Chinese cities but wanted to expand in the largest cities such as Beijing, Shanghai, Guangzhou and Shenzhen.
“ChinaHR is an excellent match with Saongroup China,” said Saongroup chief executive Ciaran McCooey. “Its blue chip client list and strong tier one city presence complements Saongroup’s robust online platform and pan-China reach.”