DHI Group, Inc. (NYSE: DHX) (“DHI” or the “Company”), a leading online career resource and talent acquisition platform for technology professionals and other select professional communities, recently announced that it has sold its Health eCareers business to Everyday Health Professional, a subsidiary of j2 Global, for approximately $15 million in cash. The transaction closed on December 4, 2017 and DHI will use the proceeds to reduce the balance on its revolving credit facility and support strategic initiatives.
DHI previously announced its intention to divest four of its non-tech businesses in May 2017 as part of a strategy to focus on tech and helping technology professionals manage their careers. Consistent with its strategy, DHI continues to pursue the divesture of its remaining non-tech businesses.
“This is a great fit for Health eCareers, joining one of the leading providers of digital health marketing and communications solutions targeted to healthcare professionals. While already successful, Health eCareers will no doubt thrive by being under the same roof as Everyday Health Professional,” said Michael Durney, President and CEO of DHI Group, Inc. “We are pleased with the outcome of this transaction, as it helps to advance DHI’s strategic goal of becoming the leading provider of talent acquisition and career management solutions focused on tech professionals, which we believe will ultimately enhance DHI shareholder value.”
AGC Partners served as the exclusive financial advisor for the transaction.
SOURCE DHI Group, Inc.