Monday, January 9, 2012

InfoSpace Buys TaxACT For $287.5M

Bellevue-based Infospace announced this morning that it has signed a definitive agreement to buy online tax software firm TaxACT, in a deal worth $287.5M in cash. According to Infospace, the buy will help it to expand into an area of future growth. TaxACT, which is based in Cedar Rapids, Iowa, had revenues of $78.1M in the twelve months ending September 30, 2011. TaxACT has approximately 70 full time employees, and served more than five million tax filers last season.