The news has broke that JobGet will acquire the recently combined CareerBuilder + Monster assets.
CareerBuilder + Monster has initiated a voluntary Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware to facilitate the sale of its assets. JobGet Inc. will acquire the job board business, Valnet Inc. will purchase Monster Media Properties (including military.com and fastweb.com), and Valsoft Corporation is set to acquire Monster Government Services.
This restructuring aims to maximize value, preserve jobs, and transition ownership amidst a challenging macroeconomic environment. The company is also seeking up to $20 million in debtor-in-possession financing from Blue Torch Capital to support operations during the sale process.
It is the end of the road for two of recruiting history’s former top employment sites. It’s also a good move for JobGet who recently acquired Snagajob and now has additional job seeker traffic to grow its business.
