Trinity Mirror buys Gaapweb.com
National and regional newspaper group Trinity Mirror has splashed out over £10m to buy Financial Jobs Online, owner of financial recruitment website Gaapweb.com.
The deal is part of Trinity’s ongoing strategy to branch out into other media businesses in order to complement its press offering.
Trinity Mirror will pay an additional £2.6m on top of the inital £10.45m, depending on performance.
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Gaapweb.com was launched in the late-1990s and has established a strong presence in the accountancy and financial recruitment arena.
The site is expected to benefit from cross-promotion from Trinity Mirror’s regional and national titles, including the Daily Mirror and Sunday Mirror.
Sly Bailey, chief executive of Trinity Mirror, said: “Digital is a key driver of our growth strategy and recruitment is an important pillar of our advertising revenue, which makes GAAPweb a perfect fit for Trinity Mirror.
“Our strategy is a careful mix of organic and M&A opportunities which so far this year has seen the launch of 17 new magazines, newspapers and online services and two important acquisitions.”
Mark Wainwright, director and joint-founder of Financial Jobs Online, added: “We are delighted to be part the UK's largest newspaper publishing group and the benefits that will bring in terms of reach, which will enable the business to grow further.”
By Kevin May
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