Tech media firm sold to cloud company
Cloud-services specialist j2 Global acquired privately held tech-media company Ziff Davis in a deal worth around $167 million.
James Rogers of TheStreet.com writes, “‘This is an exciting new chapter in the storied history of Ziff Davis and will allow us to accelerate our growth,’ Ziff Davis CEO Vivek Shah said in an email. Shah, who is also a board member of TheStreet, added that Ziff Davis will operate as a subsidiary of j2.
“Thanks to the transaction, j2 gains Ziff Davis Web properties such as PCMag.com, ComputerShopper, ExtremeTech, Toolbox.com and Geek.com. J2 expects the acquisition to be immediately accretive and to contribute about $60 million to 2013 revenue.
“The purchase price of $167 million, net of certain post-closing adjustments, was funded out of j2′s cash on hand.
“Los Angeles-based j2 sells business cloud services such as Internet fax, virtual phone, hosted email and customer relationship management (CRM). The company also offers email marketing through its Campaigner service.”
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