Dice Holdings, Inc. Acquires Rigzone
Combination Creates the Leading Global Player in Online Energy Recruiting
Building on its position in energy industry recruiting, Dice Holdings, Inc. (NYSE: DHX), a leading provider of specialized career websites for professional communities, today announced it has completed the purchase of Rigzone, a U.S. market leader in the oil and gas industry delivering content, data, advertising and career services.
“The acquisition of Rigzone extends our capabilities and strengthens our position in the highly attractive energy vertical,” said Scot Melland, Chairman, President & CEO of Dice Holdings, Inc. “The Rigzone and WorldwideWorker services complement each other with Rigzone’s traditional strength in North America and WorldwideWorker’s focus on the Middle East and emerging markets. And, both teams share a commitment to quality and a desire to serve the energy industry on a global basis.”
Known as the online gateway to the oil and gas industry, Rigzone is the world’s most-used source for upstream oil and gas news and data, including in-depth information on the exploration, drilling and production markets. Rigzone has built a valuable and largely-passive community with more than 500,000 unique visitors each month and more than 270,000 resumes in their database covering skills ranging from production operators to petroleum engineers.
“The Dice team has the strongest vision for the future direction of online recruiting, while recognizing the value of our unique and valuable content,” said David Kent, President of Rigzone. “We are truly excited about working with our colleagues from Des Moines to Dubai connecting top talent with organizations that are tackling the energy challenge.”
The purchase price consists of initial consideration of $39 million in cash. Additional consideration to a maximum of $16 million in cash is payable upon the achievement of certain operating and financial goals through June 30, 2011.
The Jordan, Edmiston Group, Inc. (www.jegi.com) of New York, NY, an independent investment bank for media, information, marketing services, and related technologies, acted as Rigzone's exclusive financial advisor.
Mr. Michael Durney, SVP, Finance & CFO will host a conference call today at 11:00 a.m. Eastern Time to discuss the acquisition.
The conference call can be accessed live over the phone by dialing 866-202-4683 or for international callers by dialing 617-213-8846; the participant passcode is 17237048. A replay will be available two hours after the call and can be accessed by dialing 888-286-8010 or 617-801-6888 for international callers; the replay passcode is 75096463. The replay will be available until August 19, 2010. The presentation will be webcast live on the investor relations section of the Company's website at www.diceholdingsinc.com
About Dice Holdings, Inc.
Dice Holdings, Inc. (NYSE: DHX) is a leading provider of specialized career websites for professional communities, including technology and engineering, financial services, energy, healthcare, and security clearance. Our mission is to help our customers source and hire the most qualified professionals in select and highly skilled occupations, and to help those professionals find the best job opportunities in their respective fields and further their careers. For more than 19 years, we have built our company by providing our customers with quick and easy access to high-quality, unique professional communities and offering those communities access to highly relevant career opportunities and information. Today, we serve multiple markets primarily in North America, Europe, the Middle East, Asia and Australia.