Reed Business Information (RBI) has today announced the sale of Totaljobs Group, the UK's largest job board, to StepStone for £110 million.
Mark Kelsey, chief executive of RBI, said: "RBI is increasingly focused on paid content and data services. Totaljobs Group has achieved the number one position in the UK, however, to compete in an increasingly global market and fully achieve their future potential, they will benefit from the scale, focus and international coverage that StepStone brings."
Rob Perkins, chief executive of Totaljobs Group, said: "I am delighted by this move. Integrating Totaljobs Group into StepStone under the umbrella of Axel Springer is the perfect strategic fit. I firmly believe this will provide opportunities to accelerate our market growth and provide substantial benefits for our customers, jobseekers and employees."
Totaljobs Group employs 350 people and comprises seven job boards, which between them carry more than 160,000 jobs, and attract seven million jobseekers per month, generating four million applications. The job boards are Totaljobs.com, CareerStructure.com, Caterer.com, Catererglobal.com, CWJobs.co.uk, RetailChoice.com and Salestarget.co.uk.
StepStone employs around 500 people in nine countries and is a wholly-owned subsidiary of Berlin-based Axel Springer.
RBI is publisher of Personnel Today.