Wednesday, July 6, 2016

Blucora Dumps Infospace Business

Bellevue-based Blucora has sold off Infospace, to data management provider OpenMail, according to the companies. Blucora said that it will receive $45M in cash for Infospace, and will use the proceeds of the sale to pay down debt. Blucora explained that the move would help it transition into a "technology-enabled financial services company" and monetize what it called a "non-core asset". Blucora originally had been Infospace, changing its name in 2012 after it acquired TaxACT.