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News » Job Mobz to complete Recruiter.com domain purchase by March 31

Job Mobz to complete Recruiter.com domain purchase by March 31

Photo from Recruiter.com

CALIFORNIA, UNITED STATES — Staffing company Job Mobz is set to seal its acquisition of Recruiter.com Group, Inc.’s assets and the Recruiter.com domain name by March 31, 2024.

The acquisition was announced in August 2023. The agreement includes $1.5 million in cash at closing, an additional $250,000 payable within 90 days from closing, shares comprising 10% of Job Mobz, quarterly profit sharing expected to begin in the first quarter of 2024, and a three-year services agreement. 

The deal comes amid restructuring plans by Recruiter.com. In June 2023, the New York-based staffing company signed a definitive agreement to purchase the fintech assets of GoLogiq, Inc. (GoLogiq), a fintech and consumer data analytics firm. 

Under the deal, GoLogiq will receive 84% of the shares of common stock of Recruiter.com. The remaining 16% will stay with Recruiter.com’s existing stockholders. 

The recruitment company also intends to spin out the operating business and assets – not part of GoLogiq – into a new business entity that would be publicly traded on the over-the-counter (OTC) Markets. Shareholders will subsequently hold two publicly traded securities – those of Recruiter.com’s stocks on NASDAQ and those of the new spin-out company traded in OTC Markets.

Recruiter.com’s latest financial statements reveal a year-on-year drop in revenue to $183,722 (excluding $1.09 million from discontinued operations) in its fiscal third quarter ended Sept. 30, 2023, from $5.78 million.

Executive search services company Futuris acquired Recruiter.com’s healthcare staffing arm in October 2023. The deal came after Futuris acquired IT-focused staffing firm Insigma and resourcing consultancy provider LotusUSA

Meanwhile, in December 2023, Job Mobz acquired Golden Hive, the recruitment process outsourcing (RPO) arm of recruiting firm Human Bees.

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