Los Angeles-based digital media J2 Global is planning to spin off its cloud fax service, said CEO Vivek Shah. The separation plan was announced in February and will create a new publicly traded company called Consensus. Mr Shah added that it is going to bring in a tremendous amount of value. Both the companies are underappreciated as they are inside one company.
Online fax products are used in the health care sector. Using it hospitals can share medical documents for patients while doing away with traditional fax machines. The fax service brought in 22% of the J2 Global’s revenue in 2020.