P-Net acquired by Irish-based SaonGroup

Established in 1999 in Ireland, Saongroup.com has expanded rapidly over the past eight years and reported revenue of €16m in 2006, with 2007 already a further 70% up on last year. The group's acquisition of SA-based P-Net is part of its expansion of its international portfolio and follows its launch of Dubai-based Recruitgulf.com in June, Indian-based myjobsinpune.com in July and a new UK website called jumptojobs.co.uk in August.

Group CEO Ken Fitzpatrick commented: “SaonGroup now operates in 12 different markets across four continents. Our recent international expansion has been in emerging markets, where Internet penetration and the use of the Internet by jobseekers and recruiters is rapidly growing. This is why the South African market was of great interest to us.”

Early entry

Established in March 1997, P-Net MD Greig Smith said P-Net's early entry enabled it to gain a foothold in the local online recruitment advertising market. “Now, with the acquisition by SaonGroup, we will be able to bring a broader range of services to recruiters and career seekers and will be expanding our offering to both corporates and recruitment agencies. SaonGroup has successfully developed service offerings for both recruitment agencies and corporates in many other markets and we look forward to adapting these to meet the needs of the SA market,” he commented.

P-Net currently claims to advertise 14 500 jobs monthly, from entry level to executive and board level across all of SA's market segments, has 300 000 registered users and 9.5 million unique monthly page impressions. P-Net has approximately 500 customers.

Smith is excited about this development as it brings much needed foreign investment to the country, with job creation spinoff and the latest in international online recruitment advertising methodology.

“Significant expansion on the cards”

Added Fitzpatrick, “Significant expansion is on the cards to facilitate a growth strategy. Our goal with the acquisition of P-Net is to continue its trend of rapid expansion, enabling P-Net to capitalise on the growth in internet usage in SA.”

“While traditional print media will always have a place in recruitment advertising, worldwide recruiters are increasingly realising the importance of utilising online as part of their candidate sourcing mix,” continued Fitzpatrick.

“Online recruitment has widened access to the labour pool for recruiters. Nielsen/NetRatings recently reported that Internet usage in South Africa had grown at the rate of 50% per year over the last two years and, with this medium becoming more accessible and affordable, penetration is set to continue growing.”

Saongroup plans to work with member companies in Magnisol to establish partnerships in markets outside of SA. Magnisol is said to be recognised as a world leader in the provision of e-recruitment solutions based on SAP's mySAP ERP Human Capital Management.