Blucora sells InfoSpace to OpenMail
We are pleased to announce that our client, Blucora, Inc. (NASDAQ: BCOR), a leading provider of technology-enabled financial solutions to consumers, small businesses and tax professionals, announced that it has entered into a definitive agreement to sell its Infospace and HowStuffWorks businesses to OpenMail LLC, a privately-held data management and marketing technology company.
The transaction is expected to close in the third quarter, subject to customary closing conditions. GCA served as the exclusive financial advisor to Blucora in connection with this transaction. GCA has previously served as the lead financial advisor to Blucora and rendered a fairness opinion in connection with the HD Vest acquisition.
Blucora, Inc. (NASDAQ: BCOR) is a leading provider of technology-enabled financial solutions to consumers, small businesses, and tax professionals. Its products and services in tax preparation and wealth management, through TaxAct and HD Vest, help customers manage their financial lives. TaxAct is a digital tax preparation solution for individuals, business owners, and tax professionals. HD Vest Financial Services supports an independent network of tax professionals who provide comprehensive financial planning solutions. It was founded in 1996 and is based in Bellevue, Washington.
InfoSpace is a leading provider of white label search and monetization solutions. It serves a network of more than 100 web publishers globally, offering core search solutions to monetize audience via a search-based advertising revenue stream. Its technology selects from the top search marketplaces and then aggregates, filters and prioritizes the results to provide a complete and partner-branded search experience. It also operates its branded search sites, including Dogpile, Zoo.com, and WebCrawler. HowStuffWorks, included in the InfoSpace sale, is a leading content brand that creates, distributes and monetizes award-winning original digital, audio and video content to an average monthly audience of approximately 27 million unique visitors.
OpenMail LLC is a privately-held data management and marketing technology company. It provides e-mail data and analytics services by helping e-mailers and e-mail marketers gain audience insights and produce results with e-mail data and analytics platforms. It was founded in 2013 and is based in Los Angeles, California.