With its core recruiting business feeling the impact of a slowing economy, Monster Worldwide Inc. [MNST] is looking to branch out into areas beyond job listings. The company on Friday said it would spend $61 million to acquire Affinity Labs Inc., which operates a number of professional and vocational communities for people in dedicated occupations. Among its Web sites are NursingLink.com, FireLink.com, PoliceLink.com and ArtBistro.com. The sites include news, videos, jobs and discussion forums for the specific professions.

The acquisition fits in with Monster's new "Your Calling is Calling" marketing campaign it rolled out on Jan. 2. The deal also highlights CEO Sal Iannuzzi's effort to turn the company around after taking the top slot last April. In July, Monster announced a corporate restructuring designed to save $150 million to $170 million annually.

The addition of Affinity Labs might make Monster more attractive to a potential buyer, although the company might be reluctant to sell out while its stock price continues to sag. Trading at $27.73 this morning, shares of Monster are down 40% from a year ago and roughly 35% since Iannuzzi became CEO. Iannuzzi will try to right the ship before exploring a deal. Of course, that could mean riding out economic weakness, and the way things are shaping up that could take a while. - David Shabelman

See Jan. 4 press release from Monster Worldwide
See Jan. 4 post from Silicon Alley Insider
See Jan. 4 post from Cheesehead
See July 30 post from Tech Confidential