Blucora, Inc. (BCOR) Announces Completion of OpenMail Sale
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Blucora, Inc. (Nasdaq: BCOR) announced that it has completed the sale of its Infospace business to OpenMail LLC, a privately-held data management and marketing technology company, for $45 million in cash.
John Clendening, president and chief executive officer of Blucora, said, “As evidenced by this successful transaction, we continue to make substantial progress on our key initiatives to divest, de-lever, deliver and drive value for Blucora shareholders. We are committed to the continued execution of our strategic plan to transform Blucora into a more streamlined company focused on core growth. While we have already completed important steps to strengthen the Company, there is more work to be done and we are excited about the opportunities ahead for the new Blucora.”
As previously announced, the Company expects to pay down more than $40 million in debt with the net proceeds of the sale of Infospace.
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