J2 Global Inc. Acquires Another Six Companies in Q2Monday, July 11, 2016
As it does every quarter, J2 Global Inc. gobbled up another slate of companies.
The Hollywood-based internet services company acquired six small companies for an undisclosed amount in the second quarter. The acquired firms include email marketing companies SMTP and Publicaster, digital media company GameTrailers, as well as backup storage companies Electronic Vaulting Services, Safebackup, and 24sevenbackup.
Last year, J2 Global acquired 24 companies and paid between $12 million to $14 million apiece on average. J2 has funded its acquisition streak by issuing $599 million in bonds and convertible debt since 2012.
In June, the firm took a $100 million stab at acquiring Gawker Media, which is putting itself up for sale after filing Chapter 11 bankruptcy. The auction for Gawker is ongoing and it’s not clear what its final sale price will be.
J2 Global did not disclose the cost of its most recent acquisitions because it said the financial impact was not material. The company’s share price rose 97 cents on Monday to close at $65.10 on the Nasdaq.