Ziff Davis valuation is way up in the clouds.
The tech-centric publisher has been sold to j2 Global, Inc., a business cloud services company, for $167 million, the companies announced today. The cash purchase is expected to yield j2 $60 million in 2013 revenues, said officials.
Formerly  a print powerhouse , Ziff Davis had reinvented itself in recent years as a digital publisher/e-commerce-oriented brand. As recently as 2008, Ziff still published PC Magazine  in print. But after shutting down that magazine, Ziff found itself buried under heavy debt. In 2010 , former Time Inc. executive Vivek Shah, with help from investment firm Great Hill Partners, purchased Ziff Davis for an undisclosed amount.
Ziff is still focused on publishing; the company’s assets include PCMag.com, ComputerShopper, ExtremeTech, Toolbox.com and Geek.com. But CEO Shah has looked to reorient the company into a publisher that helps advertisers connect with customers, and preferably sell products.
J2 said it plans to continue to operate Ziff Davis as a stand-alone company. The firm  is not a stranger to the ad world. J2 currently sells and manages digital advertising via services like eFax Free  and Campaigner. This acquisition brings scale to this effort with a top leadership team deeply committed to building the business through organic growth, said Hemi Zucker, j2’s chief executive officer.