Hotgroup to buy rival jobs website

RECRUITMENT agency Hotgroup is expected to announce the £6 million acquisition tomorrow of rival jobs website Workthing from Guardian Media Group.

The deal will propel Hotgroup, listed on the Alternative Investment Market, to pole position in the fast-growing online recruitment market ahead of Jobsite, bought for £36 million this year by The Mail on Sunday owner Associated Newspapers.

Workthing's sale represents a major U-turn by GMG, owner of The Guardian and Observer newspapers. GMG invested an estimated £44 million in the website to protect its print-based classified advertising revenues.

Hotgroup will also access Workthing's Peoplebank software, which allows employers to sift through online CVs.

Hotgroup's websites, such as Planet Recruit and Gisajob, have expanded rapidly with a string of deals, driven by 900,000 'hits' a month from jobseekers.