Military.com, an armed forces portal based out of SF, has been bought out by Monster Worldwide for $39.5 million in cash. Monster bought the parent company Military Advantage to expand its tentacles within the veterans recruiting market, “to help further enhance Monster’s U.S. public sector initiatives,” according to the statement…

This statement by Andrew McKelvey, CEO of Monster, explains it well: “This merger enables us to offer employers efficient access to veteran jobseekers, an elusive talent pool with skills that are applicable not only in the aerospace and defense industries, but many other sectors including healthcare, high tech, construction and government. In addition, we will be able to assist veterans in locating career opportunities and programs that value their unique status and experience.”

That’s what I call being creative in takeovers…

Military Advantage is profitable and generated revenues of $7.5 million in 2003. Monster Worldwide anticipates that the acquisition will be accretive in 2004 and beyond.