Successful online jobs exchange to remain with Axel Springer / Portfolio optimization and concentration on core business / Purchase price of EUR 110 million
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Axel Springer AG has sold the “Solutions” business of its subsidiary StepStone ASA to the financial investor HgCapital LLP. Based in London, the company will acquire the provider of talent management software solutions for a purchase price of EUR 110 million. The online jobs exchange StepStone, one of the leading Internet job markets in Europe, will remain with Axel Springer, where it will strengthen the company’s digital positioning in the core business of online classified ad markets.
Dr. Mathias Döpfner, CEO of Axel Springer AG: “Following the sale of the talent management software business, StepStone will be able to concentrate on an important pillar of our core business, the online jobs market. I am pleased that we have found a suitable investor for the ‘Solutions’ business unit, one that will promote the further development of this software provider under one roof and provide appropriate prospects for the employees.”
In several steps between 2008 and 2009, Axel Springer AG purchased all the equity shares of StepStone ASA. Based in Oslo, the profitable company, which operates job exchanges in ten countries, generated revenues of EUR 100.1 million in business year 2009.
HgCapital LLP is one of the leading private equity investors in Europe. The company focuses on medium-sized investments. As one of the first private equity companies, HgCapital LLP has formulated a strategy that is focused on selected sectors: consumer goods, renewable energies, health care, industry, recreation, services, and technology.
The transaction is pending, subject to the approval of the competent cartel authorities.
For more information on StepStone, please visit www.stepstone.com
Matt Lafata, HRchitect
