Austin, TX (PRWEB) April 12, 2013
A recent announcement by the U.S. Navy, introducing their move to the cloud network, has caused a lot of buzz within the business IT market. A recent report by Ventana Research, shows that 40% of respondents claimed that cloud-based services contributed to the greatest reduction in operating costs. A case study published by Amazon’s new cloud services stated that Thomson Reuters was able to reduce operating expenses by 40%-50%. While this move to the cloud may have positive affects on companies attempting to reduce their operating expenses, many tech companies are anxious to invest in the technology industry. “Smartphones have taken over from feature-phones, tablet adoption is impacting PC spending, and the Cloud is affecting the traditional software, services and infrastructure markets. IT spending is still growing organically, but not at the same pace as prior to the financial crisis says Stephen Minton, Vice President of International Data Corporations Global Technology and Industry Research Organization.
Despite the unstable global economy and cannibalization within the tech industry, this volatility has not seemed to shake j2 Global, parent company of eFax; eVoice; Onebox; Campaigner; and many other Cloud services. With 17 consecutive fiscal years of revenue growth and already commanding over 30% of the worlds digital faxing systems, recent acquisitions have positioned j2 Global to be the world leader in the virtual communications market and digital tech media. FindAFax.com, the online faxing service comparison site, takes a deeper look and what it means to the future of business IT in this cloud driven market.
In addition to the cannibal-like nature of the market, adoption rates of businesses using cloud-based services have been relatively slow. j2 Global and companies with similar offerings, must rely heavily on inorganic growth for expansion. The difference between j2 Global and their competitors is j2s aggressive growth and acquisition strategy in product offerings and global markets. Over the last month, j2 procured one of eFaxs largest competitors, MetroFax and expanded their internet fax services to Hungary, Finland and Norway. According to a Zacks JCOM analyst report, eFax will now support 19 different languages across 49 countries. While many of j2s competitors may be hesitant to expand their market share in European countries, j2 catapulted their leadership status in 2012 by procuring six European cloud-based service companies. Their aggressive acquisition strategy has given them a record breaking 2012 year and strong position to expand their market even more in 2013. Currently, j2 holds 39.8% of the internet faxing market share, with the closest competitor at only 4.4% market share.
Not only did j2Global secure their leadership position within the virtual communications industry, j2 Global made another aggressive acquisition in the form of digital tech media. This past November j2 bought Ziff Davis, the leading publisher of top tech trade magazines like PCMag.com, Geek.com and Toolbox.com. Three months later, they doubled their digital media business by acquiring IGN Inc. Originally thought to be a marketing strategy aimed at reaching their young tech friendly customers; the new publishing division has made j2 Global one of the largest digital publishers in the lifestyle and entertainment space.
So whats next for j2Global?
Given their presence in virtual communication, we can only assume that they will continue to expand in other cloud based services like online back-up and email services. According to Reece Freeman of FindAFax.com, Were not exactly sure what else in the industry is out there to be acquired, but rest assured, j2 Global will find it and gobble it up.
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