Blucora (BCOR), one of our top stocks and a provider of search aggregation services and the makers of TaxAct, completed the announced acquisition of Monoprice. Monoprice is a rapidly growing online retailer of self-branded consumer electronics and accessories. The deal was closed for a total $180 million in an all cash transaction representing half of total cash and marketable securities held by Blucora at the end of June 2013. The new acquisition will help Blucora to expand its product portfolio. The deal is expected to be immediately accretive to Blucora’s earnings with the Monoprice division expected to generate Q3 2013 revenues in the range $36.5 million to $37.5 million with a segment income margin in the range of 12% to 12.5%. It will effectively translate into additional earnings of 10 cents per quarter for the current shareholders of Blucora. The Blucora stock closed at $20.21 in the last trading session, to record a marginal loss of 0.35% for the day.
Blucora Stock Price
Source: Blucora stock chart by Amigobulls
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