Acquisition of German Education and Recruitment Business

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Wednesday 26 July 2000

Hobsons, part of the DMG Information division of DMGT, yesterday completed the acquisition of Forum Verlagsgruppe GmbH ("Forum") for cash consideration of DEM 60 million (approximately £18 million). Net assets acquired were not significant.

Forum is one of Germany's leading education and recruitment publishers and organises the largest recruitment fairs in each of Germany and Switzerland.

The acquisition is a further significant step in the development of Hobsons' international network of businesses, aimed at uniting school leavers and graduates with employers. Hobsons now has operations in the USA, Australia, Belgium, Hungary, Germany, Switzerland and the UK, together with offices in both South America and Southeast Asia.

Inquiries to:
Chris Letcher, Managing Director, Hobsons: 020 7958 5000
Paul Sykes, Finance Director, DMG Information: 01223 2733420
Peter Williams, Finance Director, DMGT: 020 7938 6631