Sidley Represents Blucora in Its US$720 Million Agreement to Sell TaxAct

Sidley is representing Blucora, Inc. in its agreement to sell TaxAct, its tax software business. Under the terms of the transaction, an affiliate of Cinven will purchase TaxAct for US$720 million in cash, subject to adjustment. The transaction is expected to close by the end of 2022. Following the closing, Blucora, Inc. will be a pure-play U.S. independent broker-dealer and investment advisor that provides tax-focused wealth management solutions.

The Sidley team is being led by Beth Berg (M&A), and includes Scott Williams, Jessica Day, Brendan McCartney, and Spencer A. Lee (M&A); Kelly Dybala (Global Finance); Gregory A. Marrs and Corey Perry (Employee Benefits and Executive Compensation); Karen Kazmerzak, Laura Collins, and Edward Sharon (Antitrust/Competition); and Suresh T. Advani (Tax).