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Add-on Acquisition • Internet Software and Services

H&R Block Acquires Wave Financial

On June 11, 2019, H&R Block acquired internet software and services company Wave Financial for 405M USD

Acquisition Context
  • This is H&R Block’s 3rd transaction in the Internet Software and Services sector.
  • This is H&R Block’s 2nd largest (disclosed) transaction.
  • This is H&R Block’s 1st transaction in Canada.
  • This is H&R Block’s 1st transaction in Ontario.

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M&A Deal Summary
Date June 11, 2019
Target Wave Financial
Sector Internet Software and Services
Buyer(s) H&R Block
Deal Type Add-on Acquisition
Deal Value 405M USD

Target Company

Wave Financial

Toronto, Ontario, Canada
Wave Financial Inc. provides software solutions and related services specifically designed to help small business owners manage their finances. Wave provides accounting, invoicing, payroll, and payments software solutions, as well as bookkeeping services, built into a comprehensive platform.
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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 8 of 8
Sector: Internet Software and Services 3 of 3
Type: Add-on Acquisition 6 of 6
State: Ontario 1 of 1
Country: Canada 1 of 1
Year: 2019 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-08 New River Innovation

Greensboro, North Carolina, United States

New River Innovation is a developer of tax-issue resolution software Beyond415.

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