j2 Global Aquires Ziff Davis

j2 Global, Inc., provider of business cloud services, announced that it has acquired Ziff Davis, Inc., the company behind some of the biggest and oldest series of world-class web properties including PCMag.com, ComputerShopper, ExtremeTech, Toolbox.com and Geek.com.

The purchase price was approximately $167 million 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.

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.

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