Blucora closes acquisition of Monoprice valued at USD180m cash
Aug 23, 2013 (M2 EQUITYBITES via COMTEX) --
Blucora Inc (NASDAQ:BCOR), an owner of Internet businesses providing online search, monetisation and taxation solutions, completed its acquisition of online provider of self-branded consumer electronics and accessories, Monoprice for USD180m cash, it disclosed on Thursday.
Premium-quality products are offered by Monoprice at prices lower than other national brands on its website, with customer service and product delivery as well. As a wholly owned subsidiary of Blucora, it will continue operations in Rancho Cucamonga, California, as a standalone business unit led by the Monoprice management team.
The company also mentioned that the all-cash acquisition will be immediately accretive to its earnings per share and that Monoprice is expected to have revenues in the range of USD36.5m and USD37.5m and a segment income margin of 12 to 12.5%.
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