j2 Global, Inc., the provider of business cloud services, has acquired Ziff Davis, Inc. Ziff Davis sites include PCMag.com, ComputerShopper, ExtremeTech, Geek.com, Toolbox.com and LogicBUY.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 40th acquisition and we plan to grow the business in the same way we have our others – through a combination of internal growth and acquisitions.”
As a result of this transaction, j2 anticipates that its revenues for 2012 will exceed the top end of its previous estimate of between $345 million and $365 million. In addition, j2 reaffirms that its 2012 non-GAAP earnings per diluted share will exceed that of 2011.
USA, Los Angeles, CA
- Ziff Davis Acquires ComputerShopper.com Posted on May 14, 2012
- Ziff Davis has acquired Focus Research Posted on September 5, 2011
- Ziff Davis acquires LogicBuy.com Posted on January 27, 2011
- Ziff Davis acquired by Vivek Shah and Great Hill Partners Posted on June 6, 2010