GREENWICH, Conn. and NEW YORK, July 13 /PRNewswire/ -- Dice Inc., the
leading provider of online recruiting services for technology, engineering and
security-cleared professionals, today announced that two leading private
equity firms, General Atlantic LLC and Quadrangle Group LLC, have agreed to
acquire the Company's equity from the current private investor owners. The
current management team will continue to lead the Company and remain
significant equity holders in Dice. The two firms are equal partners in the
transaction; further terms of the transaction were not disclosed.
General Atlantic LLC operates globally, investing in companies providing
or using information technology to transform industries and drive growth.
Quadrangle Group LLC's private equity funds invest in high-growth, as well as
more mature, media and communications companies in the United States and
Europe.
Scot Melland, President and Chief Executive Officer of Dice, stated, "We
are excited about the new growth opportunities that will come from partnering
with these two blue chip investors. Over the last two years, we have more
than doubled our customer base and job count; and expanded into related
markets with the acquisitions of ClearanceJobs and Targeted Job Fairs. Our new
financial partners bring a unique combination of technology and new media
expertise, as well as access to international markets, and their investment in
Dice is a strong demonstration of confidence in our future."
Anton Levy, Principal of General Atlantic, said, "The online environment
will continue to replace offline advertising as the preferred venue for
skilled professionals and thriving employers to find each other. Dice's
management team has made and kept the Company an essential destination for
technology careers, and we are excited by the opportunities Dice has to
provide new value-added services and enter new markets. We look forward to
working with Quadrangle and supporting Scot and his colleagues as they
continue to grow Dice into a global market leader."
"We believe the Internet has emerged as the ideal job search medium and
that the online employment sector is poised for continued growth," said Peter
Ezersky, Managing Principal of Quadrangle. "As the leader in the fast growing
and highly specialized technology market, Dice represents an especially
attractive opportunity. This investment, the first from our new fund,
Quadrangle Capital Partners II LP, is consistent with our focus on the media
and communications industry and our commitment to working with strong and
accomplished management groups. We are very pleased to be partnering with
Scot Melland and his management team as well as with General Atlantic to help
grow this business."
Dice was advised in the transaction by Evercore Partners.
About Dice Inc.
Dice Inc. is the leading provider of online recruiting services for
technology, engineering and security-cleared professionals. With a 14-year
track record in meeting the ever-changing needs of the technology sector, our
specialty industry focus and exposure to the most skilled tech-centric
audience online foster a talent marketplace where employers reach
hard-to-find, experienced and qualified technology, engineering and security-
cleared professionals.
Dice Inc. provides services to help recruiters, consultants and businesses
hire and train specialized technology professionals through its four
businesses: Dice, the leading job board for technology and engineering
professionals ( http://www.dice.com/ ); ClearanceJobs.com, the premier secure
job board focused exclusively on candidates with active or current U.S.
Government security clearances ( http://www.clearancejobs.com/ );
TargetedJobFairs, a leading provider of career fairs for candidates with
active or current U.S. Government security clearances nationwide
( http://www.targetedjobfairs.com/ ); and MeasureUp, a leading certification
destination for IT certification practice tests, assessments and online
courses ( http://www.measureup.com/ ).
About General Atlantic LLC
General Atlantic LLC is a leading global private equity investment firm
providing capital for growth and expansion. GA's investment theme is the role
of information technology in transforming businesses and industries. The firm
was founded in 1980 and has about $8 billion in capital under management.
General Atlantic has invested in over 140 companies and has current holdings
in approximately 50 companies, of which nearly half are based outside the
United States. The firm is distinguished within the investment community by
its global strategy and worldwide presence, its commitment to provide
sustained value-added assistance for its portfolio companies and its long term
approach. General Atlantic has nearly 70 global investment professionals among
its 130 employees worldwide with offices in Greenwich, New York, Palo Alto,
Washington, D.C., London, Dusseldorf, Singapore, Tokyo, Mumbai, Hong Kong, and
Sao Paulo. For further information and a listing of GA's public and private
portfolio companies see http://www.generalatlantic.com.
About Quadrangle Group LLC
Quadrangle Group LLC manages more than $4 billion through Quadrangle
Capital Partners, its private equity funds that specialize in the media and
communications industries, and Quadrangle Debt Recovery Funds, debt funds that
invest across all industries. Quadrangle was founded in 2000 and its private
equity principals have more than 75 years of collective experience advising
and investing in the media and communications industries and have an extensive
network of relationships with leading companies, executives and entrepreneurs
in these sectors. For more information, please visit
http://www.quadranglegroup.com.
Contacts:
Dice Inc. General Atlantic LLC
Andy Maas Patricia L. Hedley
(212) 850-5631 (203) 629-8658
amaas@fd-us.com phedley@generalatlantic.com
Quadrangle Group LLC
Adam Miller/Robb Malin
The Abernathy MacGregor Group
(212) 371-5999
ram@abmac.com
SOURCE Dice Inc.
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Related links:
http://www.dice.com
http://www.clearancejobs.com
http://www.targetedjobfairs.com http://www.measureup.com
http://www.generalatlantic.com
http://www.quadranglegroup.com
CONTACT:
Andy Maas of Dice Inc., +1-212-850-5631,
amaas@fd-us.com; or Patricia L. Hedley of General Atlantic LLC,
+1-203-629-8658, phedley@generalatlantic.com; or Adam Miller or
Robb Malin both of The Abernathy MacGregor Group for Quadrangle
Group LLC, +1-212-371-5999, ram@abmac.com
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