Israel's leading online classified ads site yad2, a subsidiary of Axel Springer Digital Classifieds, has acquired 70% of Saknai Net Ltd., the operator of Drushim. Drushim, which means "jobs" in Hebrew, is one of the leading Israeli portals for job classifieds. With the acquisition, yad2 strengthens its position in the online jobs classified ads market. This deal is the first acquisition by yad2 under the ownership of Axel Springer Digital Classifieds. Financial details about the deal were not disclosed but sources in the sector say the stake was bought for tens of millions of shekels.
yad2 already has its own jobs site and this will now be merged with Drushim. The online jobs classified ads market in Israel is highly competitive with Yediot Ahronot's AllJobs leading the field (according to Similarweb analytics) followed by JobMaster and JobNet.
Axel Springer president marketing and classified ad models Andreas Wiele said, "We are very pleased with the performance of yad2 since we became the shareholder of this great company. As one of the leading job classifieds portals Drushim represents the ideal complement to further strengthen our classifieds activities in Israel."
Drushim was founded in 2006 and has built up a strong market position with almost 1.5 million visits per month (Similarweb, June 2015). The company enjoys a broad customer base and offers more than 10,000 job listings. It is headquartered in Netanya and has 37 employees.
yad2 CEO Yavin Gill-More said, "Over the last few years Drushim has become a leading job board in the Israeli market. We are very confident that we can continue and accelerate the success story of Drushim under the umbrella of yad2."
German publisher Axel Springer acquired yad2 in May 2014 from Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) unit Walla for NIS 806 million.
Published by Globes [online], Israel business news - www.globes-online.com - on September 3, 2015
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