Haynes and Boone, LLP represented Blucora Inc. in the transaction.
Blucora had entered an agreement to acquire HK Financial for $160 million.
The combination adds approximately $4.4 billion to Blucora’s total client assets, bringing the total to more than $72 billion, with approximately 42% in advisory assets, the company announced.
Based in Irving, TX, Blucora provides tax-smart financial solutions that empower people’s goals. It operates in two segments, including wealth management, through its Avantax Wealth Management business (formerly operating under the HD Vest and 1st Global brands), the No. 1 tax-focused broker-dealer, with $67 billion in total client assets as of September 30, 2019, and tax preparation, through its TaxAct business, the No. 3 tax preparation software by market share with approximately 3 million consumer and professional users.
Haynes and Boone Dallas Partner Jan Sharry (Picture) and Denver Partner Dan Malone led the team representing Blucora in the transaction. They were assisted by Partners Ryan Cox, Madelyn Calabrese and Daren Domina and Associates Michael Pritchard, David Lightstone and Omar Shariff.
Involved fees earner: Madelyn Calabrese – Haynes and Boone; Ryan Cox – Haynes and Boone; Daren Domina – Haynes and Boone; David Lightstone – Haynes and Boone; Daniel Malone Jr. – Haynes and Boone; Michael Pritchard – Haynes and Boone; Omar Shariff – Haynes and Boone; Janice Sharry – Haynes and Boone;
Law Firms: Haynes and Boone;
Clients: Blucora Inc;