hired a pair of TurboTax veterans with Thursday's acquisition of TaxNet, a San Diego-based provider of customized online tax services.
Terms weren't disclosed, but the Kansas City-based company said the move will accelerate its growth in the online and packaged software tax industry.
"This acquisition brings leadership and product innovation that will serve as a catalyst for short- and long-term growth," said operating chief Jeff Yabuki. "Our objective is for H&R Block to be the leader in all aspects of the tax business, and the digital market represents an important growth opportunity for the company."
TaxNet co-founders Tom Allanson and David Murray will join H&R Block, Allanson as senior vice president and general manager of the company's digital tax solutions group, and Murray as vice president, digital tax marketing and product innovation.
Allanson previously served as senior vice president and general manager of
consumer tax group, where he was responsible for all aspects of TurboTax, the company's consumer tax preparation software.
Murray previously served as head of innovation for TurboTax, focusing on marketing and product development based on consumer insights.
H&R Block fell 2 cents Thursday to $58.38.