Tuesday, April 20, 2021

J2 Global Plans To Split Company

Los Angeles-based J2 Global, which operates a large number of Internet related businesses--both Internet services and Internet publishing--says it plans to split itself into two separate, public companies. According to J2 GLobal, it plans to separate into two companies, J2 Global and Consensus. According to J2 GLobal, it plans to spint=off at least 80.1 percent of the new company, Consensus, to existing J2 shareholders. J2 Global said it hopes to complete the transaction in the third quarter of 2021. J2 Global said that Consensus will focus on secure data exchange, focused primarily on the healthcare sector, focusing on healthcare interoperability, made up of its Cloud Fax business. J2 Global said that business is expected to have revenues of between $333 to $342 million in revenues in 2021. J2 said that Scott Turicchi, J2's current President & Chief Financial Officer, will become the Chief Executive Officer of Consensus.