HeadHunter Group Plc (NASDAQ: HHR) has revealed today that it has signed a sale and purchase agreement to purchase 100% of the issued charter capital of LLC Zarplata.ru from Hearst Shkulev Digital Regional Network B.V. Zarplata which is an online recruitment platform is being purchased by HHR for ₽3.5 billion in cash.

HeadHunter Group Plc is anticipating that this transaction will stimulate growth in important areas such as expanding its reach in the Russian Regions and outreach to blue collars and SMAs. Zarplata has earned ₽854 million in revenue in 2019. HHR believed that its revenue recognition policy is the same as IFRS. FAS has confirmed the deal and is anticipating that the transaction will be executed by the end of January 2021.