J2 Global Inc. will be splitting into two publicly traded companies as it separates a part of its cloud business from its media sites.
The company’s media properties will continue under the J2 Global name, including gaming site IGN; tech, science and culture media site Mashable; deals website Offers.com; media site BabyCenter and more.
Scott Turicchi, J2’s current president and chief financial officer said:
“Today marks an important milestone that underscores the value we are creating in our Cloud Fax business. In recent years, we have seen an acceleration in growth and opportunity for our secure data-exchange business, which is now positioned to be a leader in the race to address health-care interoperability.”
Turicchi will also become chief executive of Consensus, the company’s secure data-exchange provider, focused primarily on health care.
Vivek Shah will continue as CEO of J2 Global.
The move is expected to be complete in the third quarter after board approval and customary closing conditions.