10.02.2014 19:44:16

J2 Global Buys LiveDrive

(RTTNews) - j2 Global, Inc. (JCOM) said Monday that it has bought LiveDrive, a UK-based provider of online backup with added file sync features for professionals and individuals.

The acquisition moves j2's cloud backup annualized monthly revenue run rate to over $40 million, expands its global online backup business and customer base, and establishes a j2 Global UK office in LiveDrive's Paddington, UK location.

Terms of the acquisition were not disclosed and the financial impact to j2 is not expected to be material.

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