CareerBuilder and Monster Secure Bankruptcy Court Approval for Business Sales

In a significant development, CareerBuilder + Monster has announced that the U.S. Bankruptcy Court for the District of Delaware has approved a series of sale transactions related to its previously disclosed voluntary Chapter 11 process. The court's decision paves the way for three major acquisitions that aim to retain workforce stability while maximizing the value of the businesses involved.

The first major transaction involves BOLD, a prominent global career-technology firm dedicated to transforming work lives. BOLD will take over CareerBuilder's job board business, while also retaining rights to both the Monster and CareerBuilder brands. In a notable move to support employees, BOLD plans to extend job offers to at least 350 of the company’s global workforce, ensuring continuity and stability for staff during this transition. This aspect of the transaction highlights the commitment BOLD has towards preserving employment and supporting the existing employee base during this period of change.

The second transaction involves Iron Corp U.S. Inc., which is affiliated with a sizable privately-held investment company. This firm is set to acquire the Monster Media Properties, further diversifying the portfolio of companies under its umbrella. The acquisition is expected to enhance the media reach and capabilities associated with the Monster brand, opening doors for innovative media strategies and potential synergies in multiple areas.

The third sale sees PartnerOne, recognized as a global technology leader and one of the most rapidly expanding enterprise software groups, stepping in to acquire Monster Government Solutions. PartnerOne has a solid history of successfully acquiring and growing government software companies, suggesting that it is well-positioned to enhance and elevate Monster's offerings in this specific market.

Jeff Furman, CEO of CareerBuilder + Monster, expressed optimism following the court's approval, stating, "With the Court's approval, we are now poised to close these transactions, which maximize the value of our businesses and preserve jobs. These transactions are a testament to the hard work and unwavering commitment our employees have shown to supporting our clients each and every day."

These transactions, while still subject to standard closing conditions, are anticipated to finalize in the coming days. CareerBuilder + Monster continues to operate its businesses through the transition, ensuring that clients experience minimal disruption during this transformative period.

Additional Information and Context

For those looking to delve deeper into the court-supervised sale process, relevant court filings and additional details are accessible through the Company’s claims agent, Omni Agent Solutions. Interested parties can visit the website at Omni Agent Solutions or contact Omni directly by calling their toll-free number.

Legal and financial advisory support for CareerBuilder + Monster during this process has been provided by Latham & Watkins LLP and Richards, Layton & Finger, PA as legal counsels, while PJT Partners has served as the investment banker and AlixPartners as the financial advisor.

About CareerBuilder + Monster

CareerBuilder + Monster represents a formidable player in the global talent marketplace and workforce solutions landscape, boasting over 50 years of combined expertise between the two brands. The company leverages innovative digital, social, and mobile solutions backed by proprietary data to help employers effectively find, hire, and onboard top talent. Additionally, it empowers job seekers to acquire skills and secure meaningful employment in a fast-evolving job market. The overarching mission of CareerBuilder + Monster is to create more productive, happier workplaces that are equipped for the future.

This strategic reorganization reflects a disciplined approach to business evolution while maintaining a commitment to job preservation and enhanced service for both clients and employees alike.