DHI Group Inc. (NYSE: DHX), which operates Dice and other job boards, sold Hcareers to Virgil Holdings Inc. for approximately $16.5 million in cash. Hcareers is a job site targeting the hospitality market.
The transaction closed Wednesday. Funding was led by Genesis Park, a Houston-based private equity firm.
DHI will use the proceeds to reduce the balance on its revolving credit facility, support strategic initiatives and potentially return capital to shareholders.
Dice added Hcareers to its portfolio in November 2013 as part of its $50 million onTargetjobs acquisition, which included three job boards: HEALTHeCareers, Hcareers and BioSpace.
DHI in May 2017 announced its intention to divest