Search Co. InfoSpace Picks Up TaxACT For $288M

Law360, New York (January 10, 2012, 1:52 PM EST) -- Online search company InfoSpace Inc. has agreed to buy TaxACT for $287.5 million in a purchase that will include private equity firm TA Associates' majority stake in the online tax preparation provider, InfoSpace said Monday.

InfoSpace expects to close the deal in the first quarter of 2012 and get an immediate boost to its earnings per share, the company said in a statement. Boston-based TA Associates took a majority stake in TaxACT owner 2nd Story Software Inc. in 2005, and saw a 2010 deal to sell the company to H&R Block Inc....
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