NEW YORK, April 12, 2017 /PRNewswire/ -- DHI
Group, Inc. (NYSE: DHX) ("DHI" or the "Company"), a leading online
career resource and talent acquisition platform for technology
professionals and other select professional communities, today
announced that it has formally concluded its previously announced
exploration of strategic alternatives and will continue to operate
as an independent company.
Since November 2016, the Company,
with the assistance of its financial advisor, Evercore, has been
engaged in a comprehensive exploration of alternative ownership
options to optimize shareholder value and support execution of its
growth strategy. The Board has determined that the interests of the
Company's shareholders are best served at this time by remaining as
an independent company, and continuing to execute the Company's
tech-focused strategy. As previously announced, the Company's
tech-focused strategy includes aligning its financial and
operational resources to the global technology recruitment markets.
The market for technology jobs offers the most promising
opportunities for growth in revenue and market share. The Company
is therefore executing on the investments and organizational
changes required to most effectively compete in this
sector.
John Barter, Chairman of the
Board of Directors stated, "The Board, together with its
independent advisors, conducted a comprehensive exploration of
strategic alternatives with the intent of maximizing long-term
shareholder value. We remain committed to maximizing shareholder
value, which we believe, at this point, is best achieved by
pursuing the Company's previously announced tech-focused strategy.
Therefore, we have decided to formally conclude the strategic
alternatives process at this time."
With the conclusion of the strategic alternatives process, the
Company plans to pursue the tech-focused strategy it has been
executing since November 2016 and
will consider additional measures to facilitate this, including:
continuing investments in its core tech business, divesting assets
that aren't core to its tech-focused strategy, and exploring
acquisitions.
"Throughout the strategic alternatives process we have
emphasized that we are committed to our tech-focused strategy and
have the resources to carry it out, regardless of the outcome of
that process. Accordingly, we have already been executing on this
strategy by prioritizing initiatives and reallocating resources.
Importantly, we've stepped up innovation in our tech focused
businesses; adding skills assessment services like HackerEarth, and
deepening engagement with professionals with new Dice Careers App
features, to name two," said Michael
Durney, President and Chief Executive Officer of DHI Group,
Inc. "All of our efforts now are designed to reinvigorate our tech
franchise, broaden our market opportunity, accelerate
next-generation product development, and ultimately enhance the
Company's growth opportunities and shareholder value. We will
provide a more detailed update when we report first quarter 2017
results."
Investor Contact
Brendan
Metrano
VP, Investor Relations
DHI Group, Inc.
212-448-4181
ir@dhigroupinc.com
Media Contact
Rachel
Ceccarelli
Director, Corporate Communications
DHI Group, Inc.
212-448-8288
media@dhigroupinc.com
About DHI Group, Inc.
DHI Group, Inc. (NYSE: DHX) is
a leading provider of data, insights and employment connections
through our specialized services for professional communities
including technology and security clearance, financial services,
energy, healthcare and hospitality. Our mission is to empower
professionals and organizations to compete and win through expert
insights and relevant employment connections. Employers and
recruiters use our websites and services to source and hire the
most qualified professionals in select and highly-skilled
occupations, while professionals use our websites and services to
find the best employment opportunities in and the most timely news
and information about their respective areas of expertise. For over
25 years, we have built our company on providing employers and
recruiters with efficient access to high-quality, unique
professional communities, and offering the professionals in those
communities access to highly-relevant career opportunities, news,
tools and information. Today, we serve multiple markets located
throughout North America,
Europe, the Middle East and the Asia Pacific region.
Forward-Looking Statements
This press release and
oral statements made from time to time by our representatives
contain forward-looking statements. You should not place undue
reliance on those statements because they are subject to numerous
uncertainties and factors relating to our operations and business
environment, all of which are difficult to predict and many of
which are beyond our control. Forward-looking statements include
information without limitation concerning our possible or assumed
future results of operations, including descriptions of our
business strategy. These statements often include words such as
"may," "will," "should," "believe," "expect," "anticipate,"
"intend," "plan," "estimate" or similar expressions. These
statements are based on assumptions that we have made in light of
our experience in the industry as well as our perceptions of
historical trends, current conditions, expected future developments
and other factors we believe are appropriate under the
circumstances. Although we believe that these forward-looking
statements are based on reasonable assumptions, you should be aware
that many factors could affect our actual financial results or
results of operations and could cause actual results to differ
materially from those in the forward-looking statements.
These factors include, but are not limited to, competition from
existing and future competitors in the highly competitive market in
which we operate, failure to adapt our business model to keep pace
with rapid changes in the recruiting and career services business,
failure to maintain and develop our reputation and brand
recognition, failure to increase or maintain the number of
customers who purchase recruitment packages, cyclicality or
downturns in the economy or industries we serve, the uncertainty
surrounding the United Kingdom's
future departure from the European Union, including uncertainty in
respect of the regulation of data protection and data privacy,
failure to attract qualified professionals to our websites or grow
the number of qualified professionals who use our websites, failure
to successfully identify or integrate acquisitions, U.S. and
foreign government regulation of the Internet and taxation, our
ability to borrow funds under our revolving credit facility or
refinance our indebtedness and restrictions on our current and
future operations under such indebtedness. These factors and
others are discussed in more detail in the Company's filings with
the Securities and Exchange Commission, all of which are available
on the Investors page of our website at www.dhigroupinc.com,
including the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 2016, under the headings "Risk
Factors," "Forward-Looking Statements" and "Management's Discussion
and Analysis of Financial Condition and Results of Operations."
You should keep in mind that any forward-looking statement made
by the Company or its representatives herein, or elsewhere, speaks
only as of the date on which it is made. New risks and
uncertainties come up from time to time, and it is impossible to
predict these events or how they may affect us. We have no
obligation to update any forward-looking statements after the date
hereof, except as required by applicable law.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/dhi-group-inc-concludes-strategic-alternatives-process-300438384.html
SOURCE DHI Group, Inc.