Blucora Acquires HK Financial Services

January 24, 2020

On January 7, 2020, Blucora, Inc. announced an agreement to acquire HK Financial Services.

Under the terms of the agreement, Blucora, Inc. (“Blucora”) will acquire HK Financial Services (“HKFS”) as a stock purchase with a purchase price of $160 million. Blucora expects to issue $165 million of add-on fungible with existing debt. The deal is expected to close during the first quarter of 2020, subject to regulatory approval and customary closing conditions. Further terms of the transaction were not disclosed.

Blucora (NASDAQ: BCOR), based in Texas, is leading provider of tax-smart financial solutions operating in wealth management and tax preparation. As of September 2019, Blucora has $67 billion in total client assets.

HKFS, based in Iowa, is a CPA-focused, (captive) registered investment advisor specializing in retirement planning, insurance planning, estate planning and tax planning.

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Investment Manager M&A, Transactions