j2 Global continues on their cloud storage and backup buying spree, this time by snapping up SugarSync. While J2 was unsuccessful at buying Carbonite in late 2014 they did purchase Livedrive earlier in 2014. The press release on the j2 Global website states that the purchase of SugarSync helps J2 Global expand their cloud backup business.
“This acquisition reflects our ongoing efforts to expand and grow our cloud backup business on a global basis, both organically and through acquisitions,” said j2’s CEO, Hemi Zucker. “We’ve added a world-class technology platform and API ecosystem, an established brand, loyal customers, strong channel partners, and a talented team.”
The press release does not give a lot of details about the acquisition, not even stating the price they paid only that it is worth roughly $70 million annually. There is no statement about what this means for current customers of SugarSync , but I would expect nothing to change to quickly. Most customers of other j2 Global purchases have been left alone for the most part. The only exception seems to be the Livedrive resellers, who have been getting booted from the Livedrive reseller program. SugarSync does have a reseller program but it is not near as prominent as the Livedrive one.
This latest purchase by j2 Global does make you wonder who else might be on the list of cloud storage and backup services to get scooped up here in 2023? Perhaps Backblaze or CrashPlan (Code42) are on the list of potential new purchases yet this year. Currently j2 Global is already a powerhouse in the cloud services and digital media listing a wide range brands including:
and many digital properties including
It will be interesting to see how the rest of 2023 plays out with j2 Global, if there are more purchases of cloud companies and if Carbonite might still end up getting scooped up.
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