One step forward, one step back.
Last month, Los Angeles-based j2 Global (NASDAQ:JCOM) 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.