Delaware-based global internet service provider, j2 Global Inc. (JCOM), has acquired Australian web hosting provider Web24 Group Pty Ltd. However, financial details of the deal were not disclosed by the company.
Web24 provides web hosting and domain name apart from offering dedicated or shared services, mostly to small and medium businesses based in Australia and elsewhere. The acquisition of web24 should help j2 Global expand its business in web hosting in Australia and other countries.
Meanwhile, j2 Global has carried out a number of acquisitions over the last nine months. On July 30, 2014, j2 Global announced that the company has purchased the business and assets of email marketing provider, Contactology, Inc. With this, Contactology clients will move to j2 Global’s previously acquired email solution platform, Campaigner. Prior to this, the company had also acquired Critical Software Ltd. – a U.K.-based email security and management company operating under the brand name iCritical.
City Numbers, a U.K.-based global phone number provider, was also taken over by j2 Global. City Numbers provides inbound local, national and international toll free phone numbers in more than 80 countries. These successive buyouts are expected to drive the company’s revenues higher in the coming quarters.
j2 Global currently has a Zacks Rank #4 (Sell).
Other Stocks to Consider
Better-ranked stocks in the Internet/Application software industry include DTS Inc. (DTSI), Rally Software Development Corp. (RALY) and Support.com, Inc. (SPRT). All the three stocks currently sport a Zacks Rank #1 (Strong Buy).
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