NTPL, Monster.com enter co-branding deal.
Wednesday May 3, 7:40 am Eastern Time
Netplex, Monster enter co-branding deal
RESTON, Va., May 3 (Reuters) - E-business company Netplex Group, Inc. (NasdaqSC:NTPL - news) on Wednesday signed a two-year co-branding and profit-sharing deal with online recruitment company TMP Worldwide, Inc. (NasdaqNM:TMPW - news), the owner of the popular job search Web site, Monster.com.
Maynard, Mass.-based Monster.com has been issued warrants to purchase three million shares of Netplex stock under the deal, worth a potential of about $24 million.
In addition, Netplex said it agreed to pay Monster.com $5 million over the two-year engagement as a minimum revenue share and slot fee. Netplex will also pay Monster.com an additional 25 to 30 percent of all gross profits generated.
Netplex said its virtual office management service MyBizOffice (www.mybizoffice.com) will become a co-branded component of the auction-style employment site, Monster Talent Market (talentmarket.monster.com), which has a registry of over 175,000 independent professionals and more than 13,000 employers.
Shares of Monster.com closed at 73-1/4 on the Nasdaq exchange Tuesday, while shares of Netplex finished at 4-11/16. |
