H&R Block Completes Acquisition of Wave Financial
KANSAS CITY, Mo., July 01, 2019 // GLOBE NEWSWIRE // - H&R Block, Inc. (NYSE: HRB) today announced that it has completed its previously announced acquisition of Wave HQ Inc. (formerly known as Wave Financial Inc., “Wave”), a rapidly growing financial solutions platform focused on changing the way small business owners manage their finances. The purchase price of $405 million was funded with available cash.
“I’m delighted to announce the completion of the Wave acquisition,” said Jeff Jones, president and CEO of H&R Block. “This acquisition strengthens our growth trajectory and expands our reach within the large and growing small business market. Wave is a strong strategic fit and I am extremely excited to welcome such an innovative company with great products and an outstanding team to H&R Block.”
Wave will maintain its leadership team, including co-founder and CEO Kirk Simpson, operating independently within H&R Block from its headquarters in Toronto, Ontario.
About H&R Block
H&R Block, Inc. (NYSE: HRB) is a global consumer tax services provider. Tax return preparation services are provided by professional tax preparers in approximately 11,000 company-owned and franchise retail tax offices worldwide, and through H&R Blocktax software products for the DIY consumer. H&R Block also offers adjacent Tax Plus products and services. In fiscal 2019, H&R Block had annual revenues of $3.1 billion with over 23 million tax returns prepared worldwide. For more information, visit the H&R Block Newsroom.
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Source: HRB Tax Group, Inc.