Ziff Davis Sells Connectivity Division to Accenture for $1.2B
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Ziff Davis Sells Connectivity Division to Accenture for $1.2B: A Strategic Shift Towards Digital Media
Ziff Davis, a digital media company, is selling its entire connectivity division to Accenture for $1.2 billion. The division includes key brands like DownDetector, Ookla with Speedtest, Ekahau, and RootMetrics, focusing on fixed broadband, mobile networks, Wi-Fi, and incident detection. This sale represents 16% of Ziff Daviss total cash flow, with the division generating $231 million in revenue last year. The company first entered this space in 2014 by buying Ookla and later acquiring other brands. The sale aligns with Ziff Daviss strategy to focus on digital media opportunities, especially with AI changes ahead. The deal is expected to close in several months, and the proceeds will be used for general needs, debt handling, and investing in core areas, allowing the company to double down on its media strengths.
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