RBI sells Totaljobs to 'focus on paid content and data services'

Reed Business Information has sold its recruitment business, Totaljobs, for £110 million to German media group Axel Springer, which is planning "a growth offensive in the area of digital classifieds".

The sale by RBI is part of a bigger move by the UK publisher to focus on paid content and data services, chief executive Mark Kelsey said in a release.

Totaljobs.com, which is based in London, employs 340 staff operating seven jobs boards, which between them claim a monthly audience of seven million unique visitors.

Axel Springer head of electronic media Jens Müffelmann said in the acquisition announcement: "The Totaljobs Group is an excellently managed and profitable online company with growth above market average.

"The acquisition is an important milestone in the company's history and concurrently the first major investment under the new umbrella of Axel Springer Digital Classifieds."

Totaljobs founder and chief executive Rob Perkins added: "I firmly believe this will provide opportunities to accelerate our market growth and provide substantial benefits for our customers, jobseekers and employees."

RBI publishes about 100 trade magazines in the UK and is a division of Reed Elsevier. The group is currently seeking a buyer for its Australian magazine division and for US showbusiness title Variety.

Axel Springer, which publishes titles including Bild and Die Welt, has made the acquisition in a joint venture with private equity investment firm General Atlantic.

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