Thursday, October 12, 2017

j2 Global Acquires Two More Companies, But Also Sells Three Firms

Los Angeles-based Internet services and digital media giant j2 Global has acquired two more companies, but in an interesting shift, also said it has divested three companies from its portfolio. According to j2 Global, it acquired backupsonline, a cloud-based backup company based in The Netherlands, and StreamSend, a cloud-based email marketing company during Q3. In addition, the company said it sold Cambridge BioMarketing, a subsidiary of Everyday Health, Web24, its Australian hosting business, and Tea Leaves Health, another subsidiary of Everyday Health. Financial details of the acquisitions and sales were not announced. j2 Global said the sales of the three divestitures will reduce its revenue by approximately $23M in the second half of the year, reducing its revenues to between $1.107 billion and $1.147 billion for its fiscal 2017.