Blucora, Inc. (Blucora) (NASDAQ: BCOR) has announced that it has agreed to sell TaxAct, its tax software business. Under the terms of the transaction, an affiliate of Cinven Group Ltd. will purchase TaxAct for US$720 million in cash, subject to adjustment. The transaction is expected to close by the end of 2022.
Latham & Watkins LLP represented Centerview Partners LLC and PJT Partners, LP, as financial advisors to Blucora, in the transaction with a corporate deal team led by New York partner Robert Katz and Orange County and New York partner Charles Ruck, with associate Taylor Ashton.
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