The Asian recruitment market will soon see a new powerhouse in the sector. This will all be majority-owned by Seek Ltd, the Australia based Job Board giant. Seek is buying the 78 percent of the JobStreet Corp that it doesn’t currently own. It will merge JobStreet and JobsDB (in which it already owns a majority stake).
The announcement also came at the same time that Seek announced its results for the second half of 2013. The company is maintaining a compound annual growth rate of nearly 40 percent, with annual revenue of a$720.5 million ($651.3 U.S.) Its shares soared on news of the record profits, hitting a new all-time high of a$16.00.