Monster Worldwide Inc. announced on Wednesday that it will acquire Yahoo Inc's HotJobs site for $225 million in cash, citing an improving job market.

The deal will make Monster a career and job content provider on Yahoo’s home page in the U. S. and Canada for three years, Monster revealed today in a statement. The company expects the transaction to close in the third quarter.

In addition, the company will be able to extend similar agreements in areas outside of Canada and the U. S., including Europe and Asia. New York-based Monster is also reported to expand its network of newspapers with the addition of HotJobs, which has more than 600 newspaper partners.

However, Monster, which controls nearly 33% of online jobs postings in the United States, does not hope the deal to reflect significant issues with antitrust regulators as HotJobs has a smaller share of the market.

Under the terms of the deal, Monster will pay Yahoo $20 million to $31 million a year for Yahoo to redirect traffic to its site.

Monster's reported its net loss of $2.1 million, or 1 cent per share, in line with the forecasts. Revenue fell 27 percent to $213 million, slightly exceeding Wall Street expectations.

Yahoo rose 29 cents to $15.46 today on the Nasdaq Stock Market. The shares have fallen 7.9 percent in 2010. Monster, down 5.6 percent this year, climbed 38 cents to $16.42 on the New York Stock Exchange.