Friday, December 26, 2014

j2 Global Launches $415M Hostile Bid for Carbonite

Los Angeles-based j2 Global has launched a hostile bid for online storage company Carbonite, and has offered $15.00 per share--or approximately $415M--to buy the company. j2 Global released a letter to Carbonite shareholders earlier this week, offering to pay all cash for the company, which offers up cloud-based data protection for both businesses and individual users. j2 Global had attempted to acquire Carbonite before, in 2012. j2 Global--despite a low profile in the overall high tech sector--has been a ravenous acquirer, and has accumulated a huge line of cloud-based services (fax, email, backup, cloud apps, and much more) from across the world, and is also the owner of Ziff Davis.