H&R Block Enters into Agreement to Acquire Wave Financial, a Small Business Financial Solutions Platform
- Compelling acquisition of a highly compatible business will accelerate H&R Block’s strategy in the large and expanding small business market, providing new growth opportunities.
- Wave provides accounting, invoicing, payroll, and payments software solutions, as well as bookkeeping services, built into a comprehensive platform used by over 400,000 small businesses every month.
- Highly complementary product lines position both businesses to attract new clients.
- Wave’s low customer acquisition costs and disruptive pricing model position it well against competitive offerings.
“I’m extremely excited to welcome Wave, an innovative company with an outstanding team, to H&R Block,” said
The acquisition expands H&R Block’s product and client portfolio and enhances its position in the small business market. It also provides new growth opportunities as Wave's disruptive pricing and low-cost customer acquisition model has resulted in rapid, organic growth.
“Given the complementary strengths of these two great companies and our shared vision of providing financial help to people who need it, we’re delighted to be joining the
Wave’s innovative platform supports the large and expanding small business market, which includes 31 million small businesses in
Under the terms of the agreement,
The transaction is expected to close within the next few months, subject to regulatory approval and customary closing conditions. Based on the expected timing of closing,
Following the closing of the transaction, Wave will maintain its leadership team, including
Conference Call Details
U.S./Canada (866) 987-6821 or International (630) 652-5951
Conference ID: 8988609
The call, along with a presentation for viewing, will also be webcast in a listen-only format for the media and public. The link to the webcast can be accessed directly at http://investors.hrblock.com. The presentation will be posted on the Webcasts and Presentations page at http://investors.hrblock.com following the conclusion of the call.
About Wave Financial
Wave has won numerous awards for growth, innovation and company culture, including
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