Glassdoor to be acquired for $1.2 billion by Japanese-based HR giant Recruit Holdings
Glassdoor announced today that it has agreed to be acquired by Recruit Holdings Co., Ltd. for $1.2 billion in an all-cash transaction. Glassdoor is a leading job and recruiting company well known for providing greater workplace transparency. It’s a platform where employees and former employees anonymously review companies and their management. Recruit Holdings, a leading Japanese-based HR company, plans to operate Glassdoor as a distinct and separate part of its growing HR Technology business segment.
“Glassdoor has transformed how people search for jobs and how companies recruit. Joining with Recruit allows Glassdoor to accelerate its innovation and growth to help job seekers find a job and company they love while also helping employers hire quality candidates,” said Robert Hohman, Glassdoor CEO and co-founder, who will continue to lead the company. “I look forward to leading Glassdoor through this exciting new chapter, and to exploring ways to use our combined resources and assets to benefit job seekers, employees and employers once the deal closes.”
“I am delighted to welcome Glassdoor to the Recruit Group. Glassdoor presents a powerful platform that is changing how people find jobs everywhere,” said Hisayuki Idekoba (Deko), COO of Recruit and Head of Recruit’s HR Technology Segment. “Glassdoor is an impressive company with strong leadership, mission, products, clients and employees. We are excited to help them continue to grow and deliver value to the job seekers and employers they serve.”
Glassdoor, which launched in 2008, is one of the largest job sites in the U.S. and welcomes 59 million people to its platform each month.* People come to find the latest jobs combined with insights into jobs and companies. Glassdoor currently has rich data on more than 770,000 companies located in more than 190 countries. This includes more than 40 million reviews and insights, including company reviews, CEO approval ratings, salary information, interview questions, office photos and more. In addition, Glassdoor provides recruiting solutions to more than 7,000 employers, including 40 percent of the Fortune 500.
Founded in 1960, the Recruit Group creates and provides platforms that connect companies and consumers. Headquartered in Tokyo, Japan, the Group operates a wide range of services, including HR technology, recruitment advertisement, employment placement, staffing, housing and real estate, bridal, travel, dining, beauty and others. The Group has more than 45,000 employees and operates in more than 60 countries.
The transaction is expected to close this summer and is subject to regulatory approvals and closing conditions.
Qatalyst Partners is acting as exclusive financial adviser to Glassdoor and Gibson, Dunn & Crutcher is its legal adviser. Goldman Sachs & Co. LLC served as exclusive financial advisor and Sullivan & Cromwell LLP provided legal counsel to Recruit.