Balance Financial, a 9-year-old Bellevue company that specializes in personal finance tools and services, has been acquired by Blucora’s TaxAct subsidiary. Terms of the deal were not disclosed, but Balance Financial CEO Devin Miller wrote in a blog post that the deal will benefit “customers, partners and employees.”
“TaxACT is well-capitalized and boasts the valuable resources of a larger company which will help us further expand the growth of the Balance Financial brand,” wrote Miller in a blog post. “Together, we will leverage our combined knowledge and expertise in the digital personal finance market, enabling us to enhance the premium solutions for both TaxACT and Balance Financial customers.”
Balance Financial will continue to operate under its name, and Miller and the rest of the team will stick in place. “In the end, this transaction is about adding the financial resources and talent to better meet your needs and ensure that our services remain at the forefront of our industry,” said Miller, who previously worked at Finsphere and Premier Payment Services.
Bellevue-based Blucora, formerly InfoSpace, purchased Cedar Rapids, Iowa-based TaxAct in January 2012 for $287 million.
Balance Financial was backed by Crosslink Capital, angel investors Geoff Entress. Michael Buhrmann and others. It employs 11 people. The company, which combines elements of the online financial management service Mint.com with the personal brick-and-mortar touch of H&R Block, raised $2 million in funding last year.