Acquisition Adds to J2 Global’s ServicesMonday, January 23, 2012
Internet services company J2 Global Inc. has acquired nearly all the assets of Offsite Backup Solutions LLC, a Phoenix provider of online data backup.
The Hollywood company, which also provides online data backup but only overseas, said on Monday that it intends to bring Offsite Backup’s European brand, KeepItSafe, to the U.S. market.
"This acquisition brings us an established customer base of online backup services in the U.S., marking our launch of online backup services in the U.S., and expands our suite of U.S.-based cloud services for business," said Chief Executive Hemi Zucker in a statement
J2 Global, which provides a variety of e-mail and messaging services, did not disclose financial terms, but said the deal is not expected to make a material impact on its finances.
Shares were down 28 cents, or 1 percent, to $27.46 in midday trading on the Nasdaq.