Ziff Davis acquires LogicBuy.com
The deal will allow Ziff Davis to provide its customers with relevant deals and coupons based on products they have researched.
“We felt we'd provided consumers with content very well,” said Steve Horowitz, COO at Ziff Davis. “But providing both data and commerce is what makes the online publisher move forward. We've done a great job in educating the customer, but the next step is transacting. Consumers are looking for deals, which are the No. 1 influencer in shopping decisions. Now, with LogicBuy, we help the consumer move through the entire purchase funnel.”
Horowitz said Ziff Davis chose to purchase LogicBuy because of its revenue and growth trajectory and because its business model fit well with its own online content network. LogicBuy's staff was another reason Ziff Davis decided to acquire the company, he added.
“We feel great about bringing that team on board,” Horowitz said.
However, when asked if there would be post-acquisition layoffs, Horowitz said he was “not at liberty to discuss the personnel side of things.”
He also declined to reveal how much Ziff Davis paid for LogicBuy, which was founded in 2007. The company works with popular online merchants to offer consumers coupons and deals on products such as computers, electronics, clothing and travel.
Ziff Davis has offices in New York and San Francisco. The company filed for bankruptcy protection in 2008 but emerged the next year after a corporate restructuring. Former Time Inc. executive Vivek Shah and Boston-based private equity firm Great Hill Partners bought the company in June 2010. Ziff Davis now operates nine online properties including PCMag.com and LogicBuy.com.