Ziff Davis Completes One Acquisition in Q1 2023

Rhea-AI Summary

Ziff Davis (NASDAQ: ZD) announced the completion of an acquisition in Q1 2023, acquiring the asset Lifehacker. This acquisition aims to enhance Ziff Davis' global customer base and expand its product offerings. The strategic move is anticipated to provide access to new markets, bolstering the company's position in the technology sector. Although the terms of the acquisition were not disclosed, Ziff Davis stated that the financial impact is not expected to be material. The company continues to focus on growth within its digital media and internet portfolio, which includes prominent brands across various sectors.

Positive

• Acquisition of Lifehacker enhances global customer base and product lineup.
• Access to new markets may lead to increased revenue opportunities.

Negative

• Financial terms of the acquisition undisclosed, creating uncertainty.
• Financial impact of the acquisition is not expected to be material, indicating potential limitations on growth.

NEW YORK--(BUSINESS WIRE)-- Ziff Davis, Inc. (NASDAQ: ZD), announced today that it completed one acquisition in the first quarter of 2023.

The acquisition listed below grows Ziff Davis’ global customer base, provides access to new markets and expands the company’s product lineup. The acquisition includes:

Lifehacker (asset)

Technology (USA)

Terms of the individual acquisition were not disclosed, and the financial impact to Ziff Davis is not expected to be material with respect to the acquisition.

About Ziff Davis

Ziff Davis (NASDAQ: ZD) is a vertically focused digital media and internet company whose portfolio includes leading brands in technology, shopping, gaming and entertainment, connectivity, health, cybersecurity, and martech. For more information, visit www.ziffdavis.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230406005090/en/

Rebecca Wright

Ziff Davis, Inc.

(212) 503-5247

investor@ziffdavis.com

Source: Ziff Davis, Inc.

FAQ

What acquisition did Ziff Davis complete in 2023?

Ziff Davis completed the acquisition of Lifehacker in Q1 2023.

How will the Lifehacker acquisition impact Ziff Davis?

The acquisition aims to grow Ziff Davis' global customer base and expand its product offerings, although the financial impact is not expected to be material.

What is the significance of the Lifehacker acquisition for ZD stock?

The acquisition is intended to provide access to new markets, which could enhance ZD's growth potential in the technology sector.

Did Ziff Davis disclose the financial terms of the Lifehacker acquisition?

No, the financial terms of the acquisition were not disclosed.