j2 Global Acquires LiveDrive

j2 Global, Inc., provider of Internet services, has acquired LiveDrive Internet Ltd, 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.

“The acquisition of LiveDrive underscores our commitment to grow and diversify j2’s revenues both organically and through acquisitions on a global basis,” said j2 CEO Hemi Zucker. “LiveDrive brings j2 an established brand, customer base and reseller channel in the UK, proven technology, and a talented UK-based team.”

“We are ready to take LiveDrive’s momentum in the marketplace and build on it,” said Eoin Blacklock, MD, cloud backup, j2. “We’re excited to have LiveDrive’s employees become part of the j2 family, and look forward to working with their staff and resellers to grow our online backup and cloud storage business globally under both the LiveDrive and KeepItSafe brands.”

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