LinkedIn is acquiring Bright, a three year old start-up that developed a search technology enabling job seekers and employers to find a better professional match for them.
LinkedIn, on Thursday, announced the acquisition alongside its fourth-quarter financial results saying that Bright’s technology, which is built around a scoring mechanism to help job seekers and employers find how well-matched they are, will help drive more traffic to LinkedIn’s website.
The Bright deal, made up of 73 percent stock and 27 percent cash, will be LinkedIn’s biggest acquisition ever. The deal between the two is expected to be over by March end.
Some of Bright’s team members, including some from engineering and product roles, will be heading to the professional network’s office after the acquisition is complete. It is still unclear whether Bright CEO Steve Goodman would be joining LinkedIn or not.
According to the job placement company’s website, more than 2.5 million jobs have been indexed on the website and have been searched by 7 million people each month. Job seekers just need to create their profiles on the website to search for jobs matching their skills.
Eduardo Vivas, Bright’s Founder, said in a press release that the company has decided to join LinkedIn as it will provide Bright ‘the ability to apply its technology across the entire economy’.
Bright’s technology will be used in future by LinkedIn to help make its applicant suggestions for employers, and jobs surfaced for seekers, more relevant, said LinkedIn.
[Source: Bright]
