Amazon.com Inc, the on-line book and music vendor, has sold its Junglee Employment Services business unit to Restrac, the employee recruitment software company. Restrac paid for the deal with re-issued stock worth around $10m, plus $6m cash. Restrac gains exclusive rights to Junglee’s on-line recruitment software for automatically collecting help-wanted internet ads, which Amazon.com took on through its acquisition of Junglee Corp in August 1998. Restrac intends to integrate the technology into its online WebHire network, which allows companies to post job adverts on the internet. In the deal Restrac will also inherit Junglee’s 15 job web sites plus partnerships with online job sites run by the Washington Post and the Wall Street Journal. The transaction means that Amazon.com is now a 17% stake holder in Restrac and as part the agreement, Ram Shriram, Amazon’s vice president of business development, will join Restrac’s board of directors.
