Ziff Davis B2B, a division of J2 Global, has acquired Spiceworks -- a combination social network and software company that develops help desk, inventory and network monitoring tools for IT professionals. Spiceworks co-founder Jay Hallberg disclosed the deal in a blog. Financial terms were not disclosed.
No doubt, Spiceworks has a big following in the IT management market. The company, founded in 2006, marched toward profitability by 2010, Hallberg told me at the time. But the company's overall business journey has been a mix of growth, funding ($111 million through Series E), and occasional layoffs and pivots in recent years. I don't know if the company was profitable ahead of the Ziff Davis B2B deal.
No doubt, Ziff Davis B2B will move quickly to leverage the assets. And yes, the deal will include some job cuts, Hallberg disclosed in his blog.
It's safe to expect more details about the ownership strategy during the Spiceworks SpiceWorld 2019 conference in September.
Special thanks to Joe Pannone, CEO of Forza Technology Solutions, for alerting me about the deal.
