JobIndex Acquires Ofir for $2.8M from North Media
Deal News | Jan 06, 2025 | Aim Group
Denmark-based employment portal JobIndex has acquired its competitor Ofir from North Media for $2.8 million. This transaction, announced on January 6, is a strategic investment to integrate Ofir's customer relations, content, advertising, and user data. As part of the acquisition, 11 Ofir staff will transition to JobIndex, and the Ofir brand will remain during a transition phase. JobIndex, a market leader, viewed this acquisition as an opportunity to enhance its position within the Danish recruitment market, offering a combined and scalable service. North Media anticipates a financial turnaround following this divestment, which aligns with their strategy to focus on leadership across different market segments. Following the announcement, North Media's share price rose by 8%.
Sectors
- Online Recruitment
- Digital Advertising
Geography
- Denmark – The transaction and operations of both JobIndex and Ofir are based in Denmark.
Industry
- Online Recruitment – The industry relevant to the acquisition of job portals like Ofir and their integration into JobIndex's platforms.
- Digital Advertising – The acquisition involves advertising services that play a significant role in online recruitment platforms.
Financials
- $2.8 million – The acquisition price for Ofir by JobIndex.
- DKK30 million to DKK33 million – Expected revenue for Ofir in 2024 prior to acquisition.
- DKK13 million to DKK16 million – Expected EBITDA loss for Ofir in 2024.
- DKK14 million to DKK17 million – Expected EBIT loss for Ofir in 2024.
- 8% – The percentage increase in North Media's share price after the sale.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| JobIndex | Buyer | Company | A leading Danish job portal acquiring Ofir to enhance its recruitment capabilities. |
| Ofir | Target company | Company | A Danish job portal being acquired by JobIndex. |
| North Media | Vendor | Company | The parent company of Ofir selling the platform to JobIndex. |
| Kaare Danielsen | CEO | Person | Founder and CEO of JobIndex leading the acquisition. |
| Lasse Ingemann Brodt | CEO | Person | CEO of North Media overseeing the sale of Ofir. |