MOSCOW, Nov 24 (PRIME) -- Russian online recruiting platform HeadHunter has signed an agreement with Hearst Shkulev Digital Regional Network on acquisition of 100% of Zarplata.ru, a platform of job and personnel search, for 3.5 billion rubles, HeadHunter said on Tuesday in a statement.
The Federal Antimonopoly Service approved the deal, whose completion is expected by the end of January 2021, subject to customary closing conditions.
In 2019, Zarplata generated total revenue of 854 million rubles, according to its unaudited non-IFRS internal data. Based on HeadHunter’s due diligence of Zarplata to date, Zarplata’s revenue recognition policy is similar to IFRS, however there can be no assurance that this policy was applied consistently in historical periods.
Zarplata will operate separately from HeadHunter and will remain accessible at its existing web address, www.zarplata.ru. It is currently anticipated that the Zarplata management team will remain in place and will continue to be involved in further operations.
(75.7600 rubles – U.S. $1)
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