Recruit Holdings acquires full ownership of a U.S. pre-owned real estate site operator
Oct. 03, 2013
Recruit Holdings Co., Ltd.
Recruit Holdings Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President and Representative Director, CEO: Masumi Minegishi; hereinafter "Recruit") today announced that it has reached an agreement to acquire full ownership interest in Movoto LLC (Headquarters: California, USA; CEO: Henry Shao; hereinafter "Movoto"), the operator of a U.S. site that provides information on previously-owned real estate.
1. Purpose of the acquisition
Recruit has been developing its HR business with the aim of becoming the "No. 1 global integrated HR service provider," offering a full line-up of services and products mainly in the Asian and North American markets. In the marketing media business, Recruit has also been developing its services and operations in Asia in business categories such as travel and housing. As the first step in expanding this marketing media presence into other regions, Recruit has acquired full ownership of Movoto, the operator of a U.S. pre-owned real estate site. By bringing together Movoto's platform for providing information on pre-owned real estate in the U.S. with Recruit's expertise in operating major real estate sites in Japan and other markets, this acquisition will strengthen the overall organization's ability to provide real estate information services to users in the United States.
2. Overview of Movoto
| (1) | Company name | Movoto LLC |
| (2) | Representative | Henry Shao |
| (3) | Headquarters | San Mateo CA, USA |
| (4) | Established | January 11, 2005 |
| (5) | Number of employees | 63 (as of July 31, 2013) |
| (6) | Main business | Operator of a site that provides information on pre-owned real estate |
3. Overview of the Recruit Group
| (1) | Company name | Recruit Holdings Co., Ltd. |
| (2) | Representative | Masumi Minegishi, President and Representative Director, CEO |
| (3) | Headquarters | 1-9-2 Marunouchi, Chiyoda-ku, Tokyo |
| (4) | Incorporated | August 26, 1963 |
| (5) | Capital | JPY 3,002.64 million |
| (6) | Consolidated sales | JPY 1,049,224 million (for the fiscal year ended March 31, 2013) |
| (7) | Group employees | 25,518 (as of March 31, 2013) |
| (8) | Main business | Provider of products and solutions related to HR, education & learning info, housing info, bridal info, travel/hotel booking, restaurant info, beauty salon booking, daily deals and other areas |
Appendix: The Recruit Group's international businesses
| Business | Brand | Operating Area | |
|---|---|---|---|
| HR | Permanent Placement | RGF HR Agent | China; Hong Kong; Singapore; India; Vietnam; Indonesia |
| RGF Executive Search | 7 cities in India; Singapore; Vietnam | ||
| Bo Le | 9 cities in China; Hong Kong; Taiwan; Singapore; Malaysia; Thailand; Vietnam; Philippines; Indonesia | ||
| BRecruit | 9 cities in China; 2 cities in Indonesia | ||
| Staffing | CSI | North America | |
| Staffmark | |||
| Advantage Resourcing | North America; UK; Australia | ||
| Online HR | 51job | China | |
| indeed | More than 50 countries/regions worldwide | ||
| Marketing media | Travel | Jalan | China; South Korea; US |
| PegiPegi | Indonesia | ||
| Mytour.vn | Vietnam | ||
| Travel Book.ph | Philippines | ||
| Housing | Taofang | China |
- For details of this matter, please check the following: