Avantax, Inc. (NASDAQ: AVTA), a leader in tax-focused financial planning and wealth management, and Cetera Financial Group, the premier financial advisor Wealth Hub, have announced that Avantax and Aretec Group, Inc. d/b/a Cetera Holdings, the holding company of Cetera, have entered into a definitive agreement whereby Cetera Holdings will acquire all of the issued and outstanding equity of Avantax in an all-cash transaction valuing Avantax at approximately US$1.2 billion, inclusive of Avantax’s net debt.

Latham & Watkins LLP advised PJT Partners, as financial advisor to Avantax, in the transaction with a corporate deal team led by New York partner Robert Katz, with associate Sašo Kraner.