All change in tech media! Ziff Davis, best known for PCMag.com, ComputerShopper, ExtremeTech, Toolbox.com and Geek.com, has been acquired by j2 Global, Inc. a provider of business cloud services. According to the announcement the purchase price was approximately $167 million in cash. But don’t cry for j2 – it still has over $300 million in cash and investments. Hemi Zucker, j2’s chief executive officer said the acquisition was driven partly because j2 has a lot of “experience and significant interest in the digital media and online marketing space” as a media buyer and seller. So this is clearly an advertising aggregation play.
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. j2 Global says the transaction will contribute about $60 million to its 2013 revenues.
Founded in 1995, j2 provides cloud services to individuals and businesses globally in 49 countries offering cloud services like IP phone services, email marketing, backup, and CRM solutions. Brands it holds that you might recognise tend to be venerable (but clearly profitable) ones of yore such as eFax, Onebox, eVoice, FuseMail and KeepITsafe.