Job Mobz to acquire Recruiter.com brand in cash, stock deal

Job Mobz has announced a definitive agreement to acquire key intellectual property from the Recruiter. com. This includes the prestigious domain name Recruiter.com, symbolizing a revolutionary turn in the recruitment sector. This landmark acquisition amplifies Job Mobz’s existing relationship with the Company, transcending their former strategic partnership that sought to drive revenue growth and streamline operations. The parties believe the acquisition will propel Job Mobz’s calculated plans to expand its market presence and its service portfolio through the integration of the Company’s brand assets. The acquisition agreement features: $1.5M in cash at closing; An additional $250K payable within 90 days from closing; Shares comprising ten percent of Job Mobz, a private California corporation that forecasts 2024 revenue in excess of $50 million with net profit margins of approximately 15-20%; Quarterly profit sharing expected to begin in Q1 2024; and 3-year services agreement. In a move to fortify their alliance, the Company and Job Mobz have inked a services agreement, entrusting the Company with the ongoing management of vital technological offerings including the Job Board, Recruiter Marketplace, and Leadership Program. The revenue from these endeavors will be equitably shared after accounting for agreed-upon operating expenses. As part of this acquisition, the terms of previous agreements will be adjusted, including the transitioning of certain Recruiter on Demand clients and staff to Job Mobz, in alignment with the fresh agreement. The parties believe that this significant acquisition will solidify Job Mobz’s position as a dynamic powerhouse in the recruitment industry, reinforcing its reputation as a leading RPO firm worldwide. More than a business transaction, this collaboration symbolizes a strategic realignment poised to redefine the landscape of global recruitment, the parties believe.