Trinity Scoops Recruitment Site For £13 Million

Newspaper giant Trinity Mirror has acquired Financial Jobs Online Limited, owner of GAAPweb.com, the UK’s leading recruitment site for accountancy and finance, in a deal worth over £13 million.

GAAPweb, which was first established in the late 1990s, has developed into a leading player in the online financial recruitment market. In line with Trinity’s growth strategy, the acquisition serves to deepen the Group’s penetration of core markets and complements many of its print operations.

The acquisition follows Trinity’s purchase last month of Smartnewhomes.com, one of the UK’s leading marketing portals for new-build homes. The publisher will now begin cross-promotion of the websites with its portfolio of and print and online titles.

Explaining the significance of the deal, Sly Bailey, chief executive of Trinity Mirror, said: “Digital is a key driver of our growth strategy and recruitment is an important pillar of our advertising revenue, which makes GAAPweb a perfect fit for Trinity Mirror.

“Our strategy is a careful mix of organic and M&A opportunities which so far this year has seen the launch of 17 new magazines, newspapers and online services and two important acquisitions.”

Mark Wainwright, director and joint founder of Financial Jobs Online added: “We are delighted to be part the UK’s largest newspaper publishing group and the benefits that will bring in terms of reach, which will enable the business to grow further.”

Last month saw Trinity announce an increase in group revenue, adding 1.2% during the first six months of 2005, despite contending with a difficult advertising market (see Trinity Sees Revenues Rise Despite Difficult Ad Market).

Trinity Mirror: 020 7293 3000www.trinitymirror.com