• by Tyler Loechner  @mp_tyler, November 14, 2012

Los Angeles-based j2 Global, a cloud services provider, this week announced the $167 million acquisition of Ziff Davis, a media company in the tech market. According to the release, j2 Global made the purchase using cash on hand. J2 Global now has over $300 million in cash and investments.

“We have years of experience and significant interest in the digital media and online marketing space,” said j2 CEO Hemi Zucker in a statement. ““This acquisition brings scale to this effort with a top leadership team deeply committed to building the business through organic growth, which we expect to continue.  This is our 40^th acquisition and we plan to grow the business in the same way we have our others – through a combination of internal growth and acquisitions.”