Ziff Davis sold off to cloud services provider for $167 million
J2 Global acquires the media outlet after saying that it has "significant interest in the digital media and online marketing space."
Ziff Davis, the once-giant technology media company, has been sold off to yet another buyer.
J2 Global, a cloud services provider, announced today that it has acquired Ziff Davis for $167 million in cash. The acquisition includes the purchase of some of Ziff's top Web properties, including PCMag, Computershopper, and Geek.com.
In a statement, J2 Global CEO Hemi Zucker said his company bought Ziff Davis because of its "significant interest in the digital media and online marketing space." Zucker didn't say what J2 Global has planned for Ziff Davis, but it appears for now that things will remain status quo for the company's online properties.
J2 Global isn't your typical media company buyer. The company sells a host of business-focused services, including online fax, e-mail marketing, and a virtual phone system.
Ziff Davis was once one of the most popular technology media brands in the world. However, after a series of acquisitions that failed to unlock the brands' value, Ziff Davis filed for Chapter 11 bankruptcy protection in 2008. Soon after, the company was forced to shutter some of its print brands. Ziff Davis also brought its flagship PC Magazine brand online-only. Great Hill Partners previously acquired the Ziff Davis brand in 2010.