Wednesday, June 11, 2014
j2 Global Raising $300M In Convertible Notes For Acquisitions, Growth
Los Angeles-based j2 Global said late Tuesday that it is raising $300M via an issue of convertible senior notes, which will be due in 2029. The publicly held company--which owns a significant number of Internet services, in addition to publisher Ziff Davis--said it will use that debt funding for general corporate purposes, including acquisitions. j2 Global did not say how much of that capital would go towards acquisitions, however, the company has been a ravenous acquirer of companies across the Internet fax, virtual phone, hosted email, online backup, and other cloud services. In particular, the company has been gobbling up international players in those various areas, and now has a presence across 49 countries.