J2 Global, Inc. JCOM recently announced that its subsidiary, Ziff Davis LLC, has completed the acquisition of Everyday Health, Inc. The company had earlier made a tender offer to purchase outstanding shares of Everyday Health for $10.50 each. After its successful completion, the remaining shares not tendered and not owned by Ziff Davis procured right to be converted to receive $10.50 in cash. The conversions were carried out as per regulations. Following the deal completion, Everyday Health has become a wholly owned subsidiary of Ziff Davis.
The integration from the deal is expected to create synergies in the future. Both companies have a strong business model and are well known in their respective fields in the digital media industry. Ziff Davis is popular in the technology, gaming and men's lifestyle genre with well-known brands. Everyday Health, on the other hand, provides trusted digital health marketing and communication solutions. The deal expands the current audience base for both companies who together reached more than 86 million persons in September, according to comScore. Collectively, the companies generated $522 million in revenues over the last 12 months. Some of the leading brands under the now combined portfolio include Everyday Health, WhatToExpect, IGN, PCMag and Speedtest.
j2Global carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We note that the stock has been performing well over the past few months and has comfortably outperformed the Zacks categorized Internet Software Market over the last three months. The stock has gained over 11.94% compared with the industry, which has declined 7.13% over the same period.
The company continues to put in efforts to boost its performance despite increasing competition from peers like Nice Ltd.NICE, Atlassian Corporation Plc TEAM, and Box, Inc. BOX .
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