Markets 45 mins ago I think they re both underappreciated and I think part of the reason they re underappreciated is that they re inside of one company, Shah said in a Mad Money interview with Jim Cramer. I think this is going to create a tremendous amount of value and I think it s great to do it from a position of strength.
J2 had a market cap of $5.5 billion at the end of Tuesday.
The online fax product is used primarily in the healthcare sector, where hospitals can share medical documents for patients while doing away with traditional fax machines, the company said. The fax service made up about 22% of the $1.49 billion in revenue J2 Global brought in in 2020, according to its annual report.
May 6, 2021 3:55pm
Consensus is leaning on its traditional digital fax technology and layering on new technologies to create an end-to-end interoperability solution. It s a massive addressable market that Consensus pegs at a value of $11 billion. (Sergei Domashenko/Shutterstock)
A company primarily known in the healthcare industry for its cloud fax business is aiming to tackle the broader interoperability market.
J2 Global, a conglomerate of media and information services, recently announced plans to split into two businesses, spinning off its internet fax business as a new company called Consensus. The bulk of the company, in media and e-commerce, will remain J2.
J2 Global, a conglomerate of media and information services, Monday said it will split into two businesses, spinning off its Internet fax business to investors in a tax-free transaction as a new company, Consensus, while the bulk of the company, in media and e-commerce, will remain J2.
The spin is expected to take affect by the third quarter of this year.
J2 Global shares were briefly halted in late trading, and rose 3% upon resumption of trading.
J2’s CEO, Vivek Shah, said the split “will create two leading independent public companies,” adding that, “With distinct management teams, capital structures, and strategic focus, each company should be very well positioned to create enduring value.”
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J2 Global, Inc. (NASDAQ: JCOM), a leading internet information and services company, today announced its plan to separate the company into two independent publicly traded companies – J2 Global and Consensus – through a spin-off of at least 80.1% of the outstanding shares of Consensus common stock to J2 shareholders. The separation is expected to be completed in the third quarter of 2021. Upon completion of the transaction, shareholders will own two category-leading independent public companies, each well positioned for long-term success and superior value creation. J2 will host a live audio webcast and conference call led by members of the management team to discuss the transaction on April 20, 2021, at 8:30 a.m. Eastern Time (details below).
socaltech.com
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.