Vince Martin • 22 Comments
Vince Martin • 63 Comments
Dec. 31, 2015, 4:29 PM
- Blucora (NASDAQ:BCOR) has closed its $580M purchase of HD Vest (first announced in October), a broker focused on wealth management offerings for tax pros. HD Vest, whose purchase was financed in part through a $425M credit facility, will be integrated with Blucora's TaxAct tax prep software unit.
- Blucora: "The HD Vest platform currently supports more than 4,600 registered financial representatives managing more than $37 billion in assets ... As we integrate, TaxAct's 5.5 million tax filers and 19,500 professional tax preparers will gain seamless access to HD Vest's comprehensive financial advice and technology-enabled advisory solutions."
- Between them, HD Vest and TaxAct are expected to have 2015 revenue of $436.8M and adjusted EBITDA of $86.5M. For reference, Blucora's 2015 revenue consensus (doesn't cover HD Vest, and does cover Infospace and Monoprice, which the company plans to sell) is at $466.9M.
Oct. 14, 2015, 8:14 AM
- Blucora (NASDAQ:BCOR) agrees to acquire HD Vest Financial Services, a brokerage specializing in helping tax advisers become licensed to sell investment products, for $580M.
- BCOR also says it seeks to sell its InfoSpace and Monoprice units, in an attempt to shift further away from online search and content services as it double down on tax preparation services, which it sees as a more steady and predictable business.
- BCOR says the HD Vest transaction will generate substantial free cash flow that will be returned to shareholders starting in 2017.
Apr. 21, 2014, 9:58 AM
- HowStuffWorks, whose site and apps try to explain exactly what the company's name suggests, produces 38M unique visitors and 200M page views per month.
- Blucora (BCOR -0.1%) is acquiring the business from Discovery (DISCA -0.4%) for an undisclosed amount of cash, and adding it to its InfoSpace (white-label search) reporting unit. Discovery will have ongoing access to HowStuffWorks' video content.
- The acquisition comes a month after the WSJ reported Blucora is prepping an all-cash offer for electronics retailer Brookstone. The company's efforts to diversify follow a search/ad deal renewal with Google that doesn't cover Blucora's mobile users.
- Update: Bloomberg reports the deal price is $45M - 82% less than what Discovery originally paid for HowStuffWorks.
Mar. 31, 2014, 4:05 PM
- The WSJ reports Blucora (BCOR +3%) is prepping an all-cash bid for struggling specialty electronics retailer Brookstone that would trump a $260M stalking-horse offer ($120M in cash + the assumption of $140M in debt) from private Spencer Spirit Holdings.
- Sources state Blucora would merge Brookstone with online electronics accessory retailer Monoprice (acquired last year for $180M).
- Shares remain down 33% YTD, after having sold off due to soft guidance and worries about the terms under which Blucora partially extended its search/ad deal with Google.
- Previous: Brookstone teetering on bankruptcy
Aug. 22, 2013, 4:54 PM
- Blucora (BCOR +0.3%) closes the acquisition of Monoprice for $180M in cash.
- The acquired e-commerce company, which specializes in offering its own private-brand electronics, is expected to have revenue of $36.5M-$37.5M and a segment income margin of 12%-12.5% in Q3. Blucora expects Monoprice to be immediately accretive to EPS.
Aug. 1, 2013, 7:52 AM
- Blucora (BCOR) plans to acquire Monoprice for $180M in a deal slated to close in Q3.
- The company says Monoprice is a "disruptive participant" in the markets for electronics and tech accessories which is rapidly moving online.
- The acquisition is expected to be accretive to Blucora's earnings immediately.
Jan. 9, 2012, 6:58 AM
InfoSpace (INSP) announces the purchase of online tax solution provider TaxACT for $287.5M in a deal expected to close in Q1. The firm expects the transaction to be immediately accretive to EPS and says it will help push the year one return on shareholder capital to over 16%.| Jan. 9, 2012, 6:58 AM