One step forward, one step back.
Last month, Los Angeles-based j2 Global moved a pace away from its roots in Internet-based fax services with its purchase of PCMAG.com and Geek.com publisher IGN Entertainment. On Monday, the company shuffled back toward the field of faxing as it announced the purchase of Bellevue, Wash.-based MetroFax, a provider of Internet faxing services "and advanced features."
j2 did not disclose financial terms of the transaction, saying only that its "impact ... is not expected to be material." Shareholders appear relieved at the news. j2 shares rose 0.1% in Monday trading to close at $37.18.
The article J2 Global Buys Metrofax originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.