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Transaction drives j2’s cloud backup revenue to more than $70M annual run-rate
LOS ANGELES, CA – March 24, 2015 — /BackupReview.info/ — j2 Global, Inc. (NASDAQGS:JCOM), the global provider of Internet services, today announced the acquisition of the online file backup, synchronization, and sharing assets of SugarSync, Inc., of San Mateo, California.
“This acquisition reflects our ongoing efforts to expand and grow our cloud backup business on a global basis, both organically and through acquisitions,” said j2′s CEO, Hemi Zucker. “We’ve added a world-class technology platform and API ecosystem, an established brand, loyal customers, strong channel partners, and a talented team.”
Terms of the acquisition were not disclosed and the financial impact to j2 is not expected to be material.
Learn more at www.j2global.com
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About j2 Global
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in this Press Release are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations or beliefs and are subject to numerous assumptions, risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These factors and uncertainties include, among other items, the ability to successfully integrate and expand Firstway Digital Limited’s services into those of j2 and the numerous other factors set forth in j2 Global’s filings with the Securities and Exchange Commission (“SEC”). For a more detailed description of the risk factors and uncertainties affecting j2 Global and its Business Cloud Services Division in particular, refer to j2′s 2014 Annual Report on Form 10-K filed on March 2, 2015, and the other reports filed by j2 Global from time-to-time with the SEC, each of which is available at www.sec.gov and at www.investor.j2global.com. The forward-looking statements provided in this press release are based on limited information available to j2 Global at this time, which is subject to change. Although management’s expectations may change after the date of this press release, j2 Global undertakes no obligation to revise or update these statements.
Source: j2 Global
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