Blucora, Inc. (BCOR) Announces Completion of $40M Monoprice Sale
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Blucora, Inc. (Nasdaq: BCOR), a leading provider of technology-enabled financial solutions to consumers, small businesses and tax professionals, today announced that it has completed the sale of its Monoprice business to YFC - BonEagle Electronic Co., Ltd, a leading provider of power cord sets and networking peripherals, for $40 million in cash.
"We’re pleased to complete this transaction, which now allows Blucora to drive shareholder value as a technology-enabled financial solutions company,” said John Clendening, president and chief executive officer of Blucora. “We look forward to focusing all of our efforts on the significant opportunities that lie ahead for the new Blucora.”
As previously announced, the Company expects to pay down debt with the net proceeds of the sale of Monoprice.
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