onTargetjobs Adds On

onTargetjobs, a portfolio company of Warburg Pincus, has acquired RegionalHelpWanted.com, a network of over 350 geographically focused Internet job boards. No financial terms were disclosed, although Classified Intelligence pegs the figure at $100 million.

PRESS RELEASE

onTargetjobs, the leading niche Internet job board company, announced today its acquisition of RegionalHelpWanted.com, a network of over 350 geographically focused Internet job boards.

onTargetjobs is the parent company of BioSpace.com, Hcareers.com, HEALTHeCAREERS.com, MedHunters.com, JobLoft.com and CareerBank.com, providing online career services to the biotechnology, pharmaceutical, hospitality, restaurant, healthcare, accounting and finance markets. RegionalHelpWanted offers the next wave of local advertising opportunities for employers through geo-specific Web portals heavily promoted through partnerships with over 2,000 local radio stations throughout North America. RegionalHelpWanted.com was represented by RBC Daniels in the transaction.

The acquisition of RegionalHelpWanted.com strengthens onTargetjobs' position in the niche industry Web-based employment market, as Web-based “local” markets continue to grow in popularity as viable communities of job candidates. onTargetjobs offers staffing professionals and hiring managers the unique ability to reach with a high degree of specificity communities of industry and geographically-based candidates through a “1-Stop Contract” covering job postings, candidate databases, Web banners, electronic newsletters, career fairs, and other efficient and effective mediums.

“onTargetjobs is pleased to announce the acquisition of RegionalHelpWanted.com, as it helps to deliver with increased precision qualified candidates to businesses of all sizes,” said Allen Paschal, CEO of onTargetjobs. “As the effectiveness and popularity of niche Internet communities and employment sites grow to rival the larger horizontal job boards, the addition of RegionalHelpWanted.com's geo-targeted audience diversifies and strengthens onTargetjobs' value proposition to its existing industry-focused client base.”

Eric Straus, CEO of RegionalHelpWanted.com offered, “onTargetjobs was the partner of choice for us as they understand the niche job industry as well or better than any other company, and the complementary fit between both organizations is what set them apart. They are leaders in their field and the localization that we bring to them will allow for best of breed advertising solutions for the entire recruitment industry.”

Read more about onTargetjobs at www.ontargetjobs.com.

About onTargetjobs
onTargetjobs (www.ontargetjobs.com) is the parent company of BioSpace.com (www.biospace.com), Hcareers.com (www.hcareers.com), HEALTHeCAREERS.com (www.healthecareers.com), MedHunters.com (www.medhunters.com), JobLoft.com (www.jobloft.com) and CareerBank.com (www.careerbank.com), providing online career services to the biotechnology, pharmaceutical, hospitality, restaurant, healthcare, accounting and finance markets.

onTargetjobs invests in leading niche internet job sites, serving a defined geographic or vertical industry or job function.