Dice Holdings Purchases Dubai’s WorldWideWorker for $9m

Just as we turn the page on Q1 of 2010 the energy industry gets an employment boost with the purchase of Dubai based online recruitment business WordWideWorker by Dice Holdings (NYSE: DHX) a provider of specialized career websites.

The deal includes the Online & Recruitment Event part of the business for an initial consideration of $6m in cash and an additional consideration of $3m payable upon the achievement of certain goals.

The deal comes at no surprise as the online business has been branching out for the past decade to engulf cities like Lagos, London, Houston TX, Abu Dhabi and its HQ based in Dubai covering both global energy hubs and power brokerage centers, allowing it to set up events and physically engage with energy professionals around the world.

WorldWideWorker employs professionals from over 12 nationalities and has spent a decade to develop the business into what it is today, holding around 2 dozen recruitment events a year and a whopping half a million CVs to date with a growth of 1000 CVs estimated weekly and generating more than 2 million page views per month.

What separates the site from the rest of the crowd in our opinion is the rich experience its founders have in the energy industry expressed in its current CEO and founder Frederik Rengers whom worked in companies like Shell and Schlumberger Oilfield Services.

“Our common goal is to help hiring managers and recruiters find the best possible talent most efficiently. Speed-to-hire is critical in the energy industry” said Rengers, with insider information of the economic situation in this multi billion dollar industry WorldWideWorker.com caters to the niche energy professional recruitment market creating a vertical in which they surpassed even some regional online recruitment giants such as Bayt.com.

Generating more than $2 million dollars in revenue for 2009 alone makes the deal a smart financial investment for Dice and an opportunity for rapid expansion for WorldWideWorker. Putting Dice in an even better position adding to their impressive portfolio of specialized online recruitment portals like Dice and eFinancialCareers.

The Recruitment Event part of Worldwideworker’s business will be split from the Recruitment and Manpower department. Additionally The Recruitment and Manpower Company will be renamed and rebranded with its own identity and website. For now we learned their going with WTS (short for Worldwide Technical Services).

Source EP Mag.