Randstad Holding NV, the world's second-largest staffing company said it plans to acquire Monster Worldwide, the dotcom-era survivor that owns Monsterboard and Jobs.com, for $429 million in cash and assumed debt.
For Randstad, which has struggled to grow in the United States, the purchase fits into a series of acquisitions to expand into online recruiting.
Randstad is bidding $3.40 in cash per Monster share, a 23 percent premium to Monster's closing price Monday.
The Monster bid follows Randstad's $100 million purchase of U.S. startup RiseSmart in the U.S. September.
Though Randstad has grown to rival global number one Adecco in market capitalization, it trails U.S. market leader Manpower in North America.
Although Adecco and Manpower are Randstad's traditional rivals, the Monster acquisition appears calculated to counter a different sort of competitor: LinkedIn, which was recently acquired by Microsoft.
Randstad CEO Jacques van den Broek said that in addition to its strong U.S. name recognition, Monster brings a new technology platform and mobile phone presence to the Dutch-based company.
Monster is known primarily for its mid-level jobs listings and its database of job-seekers' resumes.