Indeed's parent Recruit Holdings snaps up Glassdoor

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Marin County-based Glassdoor on Wednesday said it has agreed to be acquired by Recruit Holdings Co., Ltd., for $1.2 billion in cash.

Glassdoor will continue to be led by co-founder and current CEO Robert Hohman, according to Recruit Holdings.

The transaction is expected to close during Q2 of Recruit Holdings' fiscal year ending 31 March 2019, subject to closing conditions and regulatory approvals. Its 59 million monthly visitors come to find data on more than 770,000 companies across more than 190 countries around the globe.

Recruit Holdings also owns the job board aggregator Indeed.com, but has said that the Glassdoor brand will be retained. Employees can anonymously post company reviews, CEO approval ratings, salary reports, benefits reviews, interview reviews, office photos and more.

Currently, Glassdoor has almost 59 million monthly users, 40 million reviews and insights for approximately 770,000 companies.

"Glassdoor's mission of helping people everywhere find jobs and companies they love is a great fit with Indeed's goal of helping people get jobs".

He added that Glassdoor was "an impressive company with strong leadership, mission, products, clients and employees".

"Looking for jobs through employer reviews is becoming more popular, so buying Glassdoor not only grabs more users but also strengthens Recruit's existing HR platform", Yushi Kawamoto, an analyst at Haitong International Japaninvest KK, told Bloomberg. We are excited to help them continue to grow and deliver value to the job seekers and employers they serve.

"Glassdoor has transformed how people search for jobs and how companies recruit".

Qatalyst Partners is acting as exclusive financial adviser to Glassdoor and Gibson, Dunn & Crutcher is its legal adviser.

Recruit was founded in 1960 and specializes in creating and providing platforms that connect businesses and consumers. LLC served as exclusive financial adviser and Sullivan & Cromwell provided legal counsel to Recruit. The firm is now involved in a wide range of industries including recruitment advertising, staffing, housing and real estate, HR technology, travel, dining and beauty, just to name a few.

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