Monday, February 10, 2014
j2 Global Buys LiveDrive
Los Angeles-based Internet services provider j2 Global continues to gobble up online businesses, saying this morning that it has acquired LiveDrive, a UK-based online backup and synchronization provider. Financial terms of the acquisition were not announced. According to J2, the acquisition grows its annualized, monthly revenue run rate for cloud backup services to over $40M. j2 Global said it will open up a new office in Paddington, UK--where LiveDrive was based--as part of the acquisition. j2 Global has been buying online backup, email marketing, and other online services firms left and right for the past few years, and even owns technology publisher Ziff Davis. The company is led by Hemi Zucker. This is the second acquisition by j2 Global so far this year; last week, the company acquired an international phone number service.