Monster Partners WIRED & Ars Technica
Monster Worldwide, Inc. (MWW) recently entered into a new media alliance with WIRED and Ars Technica. The alliance has been created with the aim of targeting job seekers with skills in IT and technology by enabling them look for companies requiring people with such capabilities.
The specific terms of this agreement are not disclosed. As per the alliance, Monster will empower the job search function for the seekers within both the WIRED and Ars Technica websites.
Backed by Monster’s comprehensive inventory of IT and Technology jobs and its proprietary semantic search technology, job search by WIRED and Ars Technica visitors will be more defined and extensive. The semantic search technology utilizes intuitive and concept based searching with a better understanding of the recruiting process and hiring needs.
Monster acquired Trovix Inc. in 2008, which provided career-related products and services that focus on advanced search technology, primarily consisting on key attributes such as skills, work history and education. The patented 6Sense semantic search and matching technology, based upon Trovix technology, provides a wide range of products and services for both job seekers and employers.
Meanwhile, there were rumors last month that the company might sell it business or a part of it. Monster had earlier retained Key Partners LLC and BofA Merrill Lynch as its financial advisors in connection with its review of strategic alternatives done previously.
The company is facing tough times for quite some time now and is considering strategic alternatives to boost shareholder value in the coming months to combat the same. Competition has intensified over the last few years in the online employment advertising market, which in our view has resulted in Monster losing share.
We maintain a Neutral recommendation on Monster. Our recommendation is supported by Zacks #3 Rank, which translates into a short-term rating of Hold.