Search Co. InfoSpace Expands With $287.5M TaxACT Buy

Law360, New York (January 9, 2012, 6:31 PM EST) -- Internet search company InfoSpace Inc. announced Monday that it will buy TaxACT for $287.5 million — just months after H&R Block Inc. dropped its own bid to acquire the online tax preparation business and its parent company over government antitrust concerns.

Bellevue, Wash.-based InfoSpace, which is funding the deal through cash and debt, said the acquisition of privately held TaxAct, the second largest provider of online tax services, would give it a strong presence in that consumer services business and opportunities for growth.

“As the market...
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