This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

InfoSpace Completes Acquisition Of TaxACT

InfoSpace, Inc. (NASDAQ: INSP) , today announced that it has completed its previously announced acquisition of TaxACT, a leading provider of online tax solutions, in a transaction valued at $287.5 million.

TaxACT offers the only complete free federal tax solution for “ everyone.” Its offerings include a free edition, deluxe edition and state edition, for individual tax filers, and products for both business and professional filers. TaxACT’s offerings are available through a secure online delivery system, complemented by available desktop downloads and extensive tax and IRS expertise.

“We are extremely pleased to complete the acquisition of TaxACT, a leader in online tax preparation,” said William J. Ruckelshaus, President and Chief Executive Officer of InfoSpace. “I am excited to welcome TaxACT employees to the InfoSpace team, and look forward to working together to capitalize on opportunities for growth.”

InfoSpace funded the transaction with a combination of cash on hand and approximately $100 million of debt. The transaction is expected to be immediately accretive to InfoSpace earnings per share, and leaves the Company with over $100 million of cash on hand.

TaxACT Holdings, Inc. is now a wholly-owned subsidiary of InfoSpace. TaxACT will continue operations in Cedar Rapids, Iowa as a standalone business unit led by the TaxACT management team.

About InfoSpace, Inc.

InfoSpace operates two independent business units. Our search business is focused on bringing the best of the Web to Internet users by providing online search products via third party distribution partners as well as our own branded web properties. Our online tax software business operates under the brand name TaxACT ( and is a leading provider of online tax solutions, reliably serving millions of consumers for over a decade. Additional corporate information may be found at and You may also follow and connect with InfoSpace and TaxACT on LinkedIn, Google Plus, Facebook, Twitter and YouTube., InfoSpace, Dogpile, MetaCrawler, WebCrawler, WebFetch, and other marks are trademarks of InfoSpace, Inc. and TaxACT

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and which may differ significantly from actual results due to various risks and uncertainties including, but not limited to: general economic, industry, and market sector conditions; the timing and extent of market acceptance of developed products and services and related costs; the successful execution of the Company’s strategic initiatives, business integration plans, operating plans, and marketing strategies. A more detailed description of these and certain other factors that could affect actual results is included in InfoSpace, Inc.’s most recent Annual Report on Form 10-K and subsequent reports filed with or furnished to the Securities and Exchange Commission. InfoSpace, Inc. undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances after the date of this release or to reflect the occurrence of unanticipated events.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs