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Monster.com gets big slice of MyBizOffice

Published on .

Reston, Va.-based Monster.com, a leading site for help-wanted advertisements, Wednesday signed a $5 million co-branding agreement with The Netplex Group Inc., Reston, Va. The deal calls for Monster.com to receive warrants for 3 million shares of Netplex stock at $8 per share, which can be exercised over a two-year period. In addition, Netplex will pay Monster.com $5 million over two years for placement of a set of services and applications, called MyBizOffice, on the Monster Talent Market area, which is used by freelancers to drum up work. The two companies will share revenues generated by MyBizOffice. The deal gives MyBizOffice exposure on Monster.com's heavily trafficked site, as it attempts to reach independent contractors. The deal mirrors a similar agreement signed last year between CNET Inc. and business application service provider Niku Inc. Monster.com is a unit of TMP Worldwide Inc., New York.
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