A Haynes and Boone, LLP team led by Denver Partner Dan Malone represented Blucora, Inc. in the $720 million sale of its tax software business, TaxAct, Inc to an affiliate of Cinven, Ltd. a UK-based private equity fund.
The transaction was announced Nov. 1 and is expected to close by the end of 2022.
Following completion of the transaction, Blucora will rebrand as Avantax and focus on its success in providing tax-focused wealth management through its independent broker dealer, Avantax Wealth Management, and its employee-based registered investment advisor, Avantax Planning Partners, Blucora said in an announcement. Blucora is a provider of data and technology-driven solutions that empower people to improve their financial wellness. TaxAct is a market leader in tax software with over 3 million consumer users and approximately 21,000 professional users in 2022.
“We are honored to have assembled a multi-disciplinary legal team that worked collaboratively and seamlessly to represent Blucora in this transformative transaction,” said Dan, a partner in Haynes Boone’s Corporate and Private Equity Practice Groups and the administrative partner of the firm’s Denver office.
Dan was assisted in the transaction by:
- Partner Tom Tippetts and Associates Cameron Scales, Taylor Calvert, Matthew Thompson, Bilal Sheriff and Lydia Dohvoma (M&A)
- Partners Don Shiman and Sam Lichtman, Senior Counsel Ken Bezozo and Associate Dan Collins (Tax)
- Partner Melissa Goodman (Labor)
- Partners Susan Wetzel and Scott Thompson (Benefits)
- Partner Sakina Foster (Finance)
- Partner Gavin George and Associate Eric Benoliel (IP)
- Counsel Jacqueline Shipchandler (Antitrust).
Haynes Boone’s M&A lawyers have comprehensive experience handling middle market deals, having helped clients close more than 500 transactions in the last five years, with an aggregate value exceeding $40 billion. The group routinely represents private equity firms, closely held corporations, founders, large financial institutions, and Fortune 500 public companies.
Haynes and Boone, LLP is an international corporate law firm with offices in Texas, New York, California, Charlotte, Chicago, Denver, Washington, D.C., London, Mexico City and Shanghai, providing a full spectrum of legal services in energy, technology, financial services and private equity. With 600 lawyers, Haynes Boone is ranked among the largest U.S.-based firms by The National Law Journal, The American Lawyer and The Lawyer. It was recognized in the BTI Consulting Group’s 2022 “A-Team” report, which identifies the law firms that in-house counsel commend for providing superior client service.
