trending Market Intelligence /marketintelligence/en/news-insights/trending/kgVEovvjIbnR8F9jw5VFDA2 content esgSubNav
In This List

Blucora to acquire 1st Global for $180M


Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection


S&P Capital IQ Pro | Powered by Advanced Visualization


Live TV still dominates most TV viewing in Asia


Netflix amortized content spend estimated at $13.6 billion in 2021

Blucora to acquire 1st Global for $180M

Financial solutions provider Blucora Inc. has agreed to acquire 1st Global Inc., a tax-focused wealth management company.

The $180 million deal, structured as a stock purchase, is expected to close in the second quarter.

Blucora expects the deal to be accretive to earnings per share and free cash flow. It also expects the deal to generate $23 million to $24 million of run-rate adjusted EBITDA accretion by the end of 2019.

Blucora expects to fund the deal with cash on hand and a $125 million add-on to its existing credit facility due 2024.

The deal is expected to help accelerate the expansion of Blucora's wealth management business as well as improve its organic growth.

Blucora has also updated its outlook for the first quarter. The company now expects net income of $57.5 million to $60.0 million, or $1.14 per share to $1.20 per share, up from its previous outlook of $48.0 million to $50.5 million, or 95 cents per share to $1.00 per share.

Meanwhile, the company expects revenue to be $224.0 million to $229.0 million, up from the previous outlook of $213.5 million to $218.5 million.