Ringier offsets stake in Jobcloud
Ringier has adjusted its stake in Jobcloud and, as of June 30, 2014, once again holds a 50 percent stake in the company. Most recently, Tamedia held a majority stake of 62.9 percent, while Ringier’s stake stood at 37.1 percent.
Ringier and Tamedia acquired Jobs.ch Holding in equal parts from the US investment company Tiger Global Management for CHF 390 million as of November 30, 2012. The holding company was subsequently renamed Jobcloud. Tamedia contributed the online job market subsidiary Jobup, valued at around CHF 120 million, to the partnership on June 14, 2013 (with economic effect as of January 1, 2013), making the media company the majority shareholder. As agreed at the beginning of the partnership, Ringier is now offsetting the investment in JobCloud AG with a payment of around CHF 59 million. Tamedia will continue to consolidate Jobcloud according to IFRS, Ringier according to Swiss GAAP FER.
With Jobs.ch and Jobup.ch, Jobcloud looks back on more than 10 years of history and successful development from a start-up to an innovative and successful online company in the Swiss job market. Since the merger of Jobs.ch and Jobup.ch, the two media companies Ringier and Tamedia have further expanded the job platforms in the face of increasingly international competition. The company employs around 140 people in Geneva and Zurich. In addition to Jobs.ch and Jobup.ch, the portfolio also includes the job portals Alpha.ch, Topjobs.ch and Jobwinner.ch, among others.
