Gen George, founder and chief executive of online job network OneShift, has snapped up mature age jobs board Adage for an undisclosed sum.
OneShift was valued at $18 million in 2013 and George told SmartCompany her business grew at a rate of 400% last year.
George says the acquisition of the jobs board and online community for jobseekers over the age of 45 is a “straight acquisition” with no earnout and Heidi Holmes, owner and chief executive of Adage, will no longer be involved in the business.
Adage users will become part of OneShift and Adage will “gradually morph” to the OneShift banner.
For George, the appeal of Adage is in its users.
“It’s more about the existing user base, especially since we are seeing more businesses are looking for the more mature and skilled worker,” she says.
“If you talk to a lot of the customer service teams who deal with products tailored to people a bit older that’s their perfect candidate. You don’t want an 18-year-old calling you about life insurance.”
George says the deal will allow OneShift to grow its footprint in the mature market.
She wouldn’t be drawn on any further acquisitions on the table.
“In Australia the plan is to grow organically but overseas and potentially domestically we will look to partner with people,” George says.
“We are always looking out for good opportunities, you never know what is around the corner,” George says.
George started OneShift in 2012 and the business operates by matching job seekers and employers for casual and part-time work.
Employers pay a $30 subscription fee for a job advertisement and OneShift then provides a selection of potential candidates.
Traditionally, OneShift candidates have been younger and focused on casual work but George says the Adage acquisition will broaden its user base.
Holmes said in a statement that OneShift was an attractive and natural fit for her business.
“After consistent and steady growth at Adage over the last few years, we felt the Adage network could benefit greatly from the resources on offer through OneShift,” Holmes said.
“I strongly believe that this acquisition will not only result in more positive employment outcomes for mature workers and employers but also raise the profile of the mature worker as one which should be embraced rather than ignored.”