j2 Global JCOM, the provider of business cloud services,
today announced that it has acquired Ziff Davis, Inc., a leading media company
in the technology market. The acquisition provides j2 a series of world-class
web properties, including PCMag.com, ComputerShopper, ExtremeTech, Toolbox.com
and Geek.com.
The purchase price was approximately $167 million, net of certain post-closing
adjustments, and was funded out of j2's cash on hand. The transaction is
anticipated to be immediately accretive and to contribute approximately $60
million to 2013 revenues. After giving effect to this transaction, j2 has over
$300 million in cash and investments.
“We have years of experience and significant interest in the digital media and
online marketing space, both as a large scale consumer of advertising (~$50M
per year) and as a seller of advertising on our ad supported properties (e.g.
eFax Free) and a provider of marketing and advertising services through
Campaigner®,” said Hemi Zucker, j2's chief executive officer. “This
acquisition brings scale to this effort with a top leadership team deeply
committed to building the business through organic growth, which we expect to
continue. This is our 40^th acquisition and we plan to grow the business in
the same way we have our others - through a combination of internal growth and
acquisitions.”
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