Add-on Acquisition • Financial Services

H&R Block Acquires Olde Financial

On September 2, 1999, H&R Block acquired financial services company Olde Financial for 850M USD

Acquisition Context
  • This is H&R Block’s 2nd transaction in the Financial Services sector.
  • This is H&R Block’s largest (disclosed) transaction.
  • This is H&R Block’s 4th transaction in the United States.
  • This is H&R Block’s 1st transaction in Michigan.

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M&A Deal Summary

Date September 2, 1999
Target Olde Financial
Sector Financial Services
Buyer(s) H&R Block
Deal Type Add-on Acquisition
Deal Value 850M USD

Target Company

Olde Financial

Detroit, Michigan, United States
Olde Financial Corp. is a discount brokerage firm.
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Buyer Overview 1

Buyer

H&R Block

Kansas City, Missouri, United States

Category Company
Founded 1955
Sector Consumer Services
Employees4,200
Revenue 3.6B USD (2024)
DESCRIPTION
H&R Block's corporate headquarters in Kansas City, Missouri.
H&R Block's corporate headquarters in Kansas City, Missouri.

H&R Block is a provider of income tax return preparation and related services and products via a network of approximately 13,000 company-owned and franchised offices and through TaxCut online and software solutions. H&R Block was formed in 1955 and is based in Kansas City, Missouri.


Deal Context for Buyer #
Overall 4 of 8
Sector: Financial Services 2 of 2
Type: Add-on Acquisition 3 of 6
State: Michigan 1 of 1
Country: United States 4 of 7
Year: 1999 2 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-07-01 RSM McGladrey

Bloomington, Minnesota, United States

RSM McGladrey, Inc. is a consulting firm that provides a variety of services to small and medium sized business. Services include accounting, audit, tax preparation and planning, and wealth management.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-07 TaxNet

Carlsbad, California, United States

TaxNet, Inc. is a provider of customized online tax services.

Buy -