Friday morning, New York-headquartered Monster Worldwide, Inc. (MNST) a provider of online employment solutions to Fortune 100 companies and other enterprises world-wide said it has acquired Affinity Labs Inc., a development stage company, in a transaction valued at about $61 million in cash. Monster Worldwide also said that it does not anticipate the acquisition to make an impact on its financial results in 2008.The Mayfield Fund and Trinity Ventures-backed Affinity, operates a portfolio of professional and vocational communities for people entering, advancing and networking in certain dedicated occupations today's fast-growing career fields. Affinity is led by Christopher Michel, the founder of Military.com, which was acquired by Monster in 2004. Pursuant to Affinity's acquisition, Michel will join the Monster leadership team and report directly to Sal Iannuzzi, chairman and chief executive officer of Monster Worldwide.Monster Worldwide sees this acquisition increasing its presence in the growing vertical markets and several professional and vocational online communities. Monster can also make use of Afinity's data base of users and job seekers to increase its online advertising services to a larger, targeted customer base.The combination of Monster and Affinity would provide highly relevant content through career guides, industry job searches, trade news and social networking for job seekers. The companies and enterprises would also gain access to a targeted pool of job candidates in desirable career fields. Both the companies had earlier in 2007, signed a deal through which job seekers could access Affinity's portfolio of sites while registering for a MyMonster account.Commenting on the acquisition, Iannuzzi said, We believe Affinity's model complements the core Monster business and significantly enhances our presence in key verticals within the online vocational and networking market. Our investment in Affinity provides Monster with an efficient vehicle for developing future revenue streams in vibrant career fields while permitting us to actively invest in product, technology and brand support in our core business. The addition of Affinity Labs to the Monster family will benefit both job seekers and customers in the vertical markets where Affinity operates.MNST closed Thursday's regular trading session at $28.93, down $2.58 on a volume of 4.66 million shares, higher than the three month average volume of 2.17 million shares.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.