Ireland-headquartered online HR company Saongroup has acquired ChinaHR.com, Monster Worldwide’s Chinese operation for an undisclosed sum.
Under the deal, Monster Worldwide will retain a 10pc shareholding in the combined China business of Saongroup.
The addition of ChinaHR boosts Saongroup’s Chinese network to almost 200 cities across China, while giving it a strong presence in tier one cities like Beijing, Shanghai, Guangzhou and Shenzhen.
“ChinaHR is an excellent match with Saongroup China,” said Ciaran McCooey, group CEO, Saongroup.
“Its blue chip client list and strong tier one city presence complements Saongroup’s robust online platform and pan-China reach. The acquisition of ChinaHR repositions Saongroup as a market leader and leaves us well positioned to accelerate our growth in the Chinese market.”