Divestiture • Information Technology

Pathward Financial Acquires EPS Financial

On October 3, 2016, Pathward Financial acquired information technology company EPS Financial from Taxwell for 43M USD

Acquisition Context
  • This is Pathward Financial’s 1st transaction in the Information Technology sector.
  • This is Pathward Financial’s 2nd largest (disclosed) transaction.
  • This is Pathward Financial’s 3rd transaction in the United States.
  • This is Pathward Financial’s 1st transaction in Pennsylvania.

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M&A Deal Summary

Date October 3, 2016
Target EPS Financial
Sector Information Technology
Buyer(s) Pathward Financial
Sellers(s) Taxwell
Deal Type Divestiture
Deal Value 43M USD

Target Company

EPS Financial

Easton, Pennsylvania, United States
EPS Financial LLC is a provider of comprehensive tax-related financial transaction IT solutions for over 10,000 Electronic Return Originators (“EROs”) nationwide, offering a one-stop-shop for all tax preparer financial transactions.
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Buyer Overview 1

Buyer

Pathward Financial

Sioux Falls, South Dakota, United States

Category Company
Founded 1954
Sector Financial Services
Employees1,155
Revenue 605M USD (2024)
DESCRIPTION

Pathward Financial is a provider of financial products and services for commercial, agricultural, and retail customers. Pathward Financial was founded in 1954 and is based in Sioux Falls, South Dakota.


Deal Context for Buyer #
Overall 3 of 5
Sector: Information Technology 1 of 1
Type: Divestiture 1 of 1
State: Pennsylvania 1 of 1
Country: United States 3 of 5
Year: 2016 1 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-16 Fort Knox Financial Services

Louisville, Kentucky, United States

Fort Knox Financial Services Corp. is a provider of software services to financial industry.

Buy $50M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-10 Specialty Consumer Services

Texas, United States

Specialty Consumer Services LP is a provider of technology, underwriting and consulting services to national tax return preparation companies and the pioneer for no fee refund advance products.

Buy $15M

Seller Profile 1

SELLER

Taxwell

Franklin, North Carolina, United States

Category Company
Founded 1977
Sector Software
Employees600
DESCRIPTION

Taxwell is a provider of tax preparation software to professionals and individuals. The Company provides the tools and resources that tax professionals need to build their businesses and properly file federal, state, and local taxes across the country. Drake Software was founded in 1977 and is based in Franklin, North Carolina.


Deal Context for Seller #
Overall 1 of 1
Sector: Information Technology 1 of 1
Type: Divestiture 1 of 1
State: Pennsylvania 1 of 1
Country: United States 1 of 1
Year: 2016 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 TaxACT

Dallas, Texas, United States

TaxACT provides online tax preparation software and electronic filing services. TaxACT is available via the internet to individual taxpayers and paid preparers as online tax preparation programs or as downloadable desktop software. TaxACT was founded in 1998 and is based in Dallas, Texas.

Buy $720M