Blucora Signs Amended Acquisition Agreement to Acquire HK Financial Services
Blucora, Inc. (BCOR)
Last blucora, inc. earnings: 2/19 06:30 am
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Source: GlobeNewswire
IRVING, Texas, April 09, 2020 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ: BCOR), a leading provider of tax-smart financial solutions that empower people to achieve their financial goals, today announced it has entered into an amended agreement to acquire privately held HK Financial Services (HKFS). The parties mutually agreed to enter into the amended agreement in response to current economic conditions. The amended agreement adjusts the purchase price to $100 million, from $160 million, while also adding a financing contingency and setting a new target closing window between today and October 1, 2020. The amended agreement allows for the closing window to be extended upon mutual agreement, as well as the potential for performance-based earn-out payments over time, should the asset targets from the original agreement be achieved. We believe that the amended transaction terms prioritize flexibility and balance sheet strength, while providing a path for Blucora to capture the valua
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