New Delhi, May 25: Monster.com, the US-based jobs online portal, today bought out Hyderabad-based Jobsahead.com in a Rs 40 crore deal.

This is the first major acquisition of a jobs portal in India.

Jobsahead.com is the country’s leading online recruitment agency. The acquisition of Jobsahead.com is part of the global acquisition initiative of Monster.com to boost revenues.

Under the deal, Monster.com has bought over Webneuron Services, the company that had the controlling stake in Jobsahead.com.

The company executives refused to say whether it was an all-cash deal or involved other instruments.

The final integration of the two companies and the staff will be completed by the year-end. The promoters of Jobsahead.com said with this acquisition, Monster India would have the largest recruitment database with 25 lakh resumes and 55 lakh job-seekers.

Arun Tadanki, president of Monster Asia, said, “The economy is very strong and the recruitment market is booming. The jobs market is one of the best in recent years.”

Punit Dalmia, chairman of Jobsahead.com, said, “The size of the deal is about Rs 40 crore. We cannot divulge the details since we are bound by market regulations. We are expecting the regulatory approvals in the next three months. The definitive agreement for the deal was signed two days ago.”

The major beneficiary of this deal include Puneet Dalmia and Alok Mittal and the venture capitalists like ChrysCapital. Chrys, formerly Chrysalis, has invested about Rs 30 crore in the company. All of them have large holdings in the company and can trade them.