Tue, Nov 13, 2012 | 15:01 GMT
Tech publisher Ziff Davis snapped up by cloud services provider j2 Global
Business cloud services provider j2 Global has completed a deal to purchase long-running tech publisher Ziff Davis. j2 paid $167 million for the company and expects the investment to have an instant impact on its financial report, contributing $60 million to its revenue in 2013.
Ziff Davis is best known for publishing various tech and gaming websites/magazines. Current sites include Geek.com and PC Mag, although it appears the company’s most prolific days are long gone. Ziff used to manage the likes of Electronic Gaming Monthly, GameSpot, 1UP and Computer Gaming World, before the organisation filed for bankruptcy in 2008.
“We have years of experience and significant interest in the digital media and online marketing space,” 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.”
Let’s hope the future is bright for everyone involved.