Ringier increases its share in JobCloud AG – Ringier and Tamedia each holding 50 percent again

Zurich, 26 May 2014 – Ringier is adjusting its investment in JobCloud AG and will again hold 50 percent of the company as of 30 June 2014. JobCloud AG operates the successful online job market platforms jobs.ch and jobup.ch and other sites. Most recently Tamedia had been the majority shareholder with 62.9 percent, while Ringier's stake amounted to 37.1 percent.

Effective 30 November 2012, Ringier and Tamedia took over equal shares of jobs.ch Holding AG from the U.S. equity investment company Tiger Global Management for a total of CHF 390 million. jobs.ch Holding AG was subsequently renamed JobCloud AG. Tamedia brought its online job market subsidiary Jobup AG, valued at approximately CHF 120 million, to the partnership on 14 June 2013 (with economic effect as of 1 January 2013), which made Tamedia the majority shareholder. As agreed at the outset of the partnership, Ringier is now increasing its stake in JobCloud AG to 50 percent by making a payment of approximately CHF 59 million. Tamedia will continue to consolidate JobCloud AG in its financial statements in accordance with IFRS, while Ringier applies the Swiss GAAP FER rules.

With jobs.ch and jobup.ch, JobCloud AG looks back at a history of 10 years and the successful development from a start-up to an innovative and flourishing online company in the Swiss job market. Since the merger between jobs.ch and jobup.ch the two media enterprises, Ringier and Tamedia, have continued to expand the job platforms in the increasingly international market. The company has some 140 employees in Geneva and Zurich. In addition to jobs.ch and jobup.ch, the portfolio also includes the job sites alpha.ch, topjobs.ch and jobwinner.ch.