Wave to be acquired by H&R block for $537 million

Source: Wave Financial

It is with incredible excitement that I share that today H&R Block has signed an agreement to acquire Wave.

Since starting Wave in 2010, we have had a singular focus on simplifying the lives of small business owners, and we have been so excited to see so many of you come along with us on this journey. What we have built together would not have been possible without your feedback and support throughout the years.

But this isn’t the end - it is the start of an exciting new chapter.

Many of you will be familiar with H&R Block. They are one of the largest tax preparation companies in the world, with a purpose to provide help and inspire confidence in their clients and communities everywhere. The team at H&R Block has an inherent calling to help others, as more than 23 million tax returns are prepared by or through them annually.

Many of those customers are entrepreneurs that are working with a trusted H&R Block tax professional to assist with their most important and stressful annual financial event of the year — tax time. We are excited to bring that level of scale and expertise into the Wave ecosystem in the coming quarters and years. By helping with tax, we are confident that we can serve small business owners even more effectively.

As small business owners yourselves, I know you will celebrate with us on this milestone. But more importantly I want you to know that we remain focused on serving you. The brand that you have come to trust and love in Wave, is not going away. H&R Block and Wave have a shared vision of serving small business - we will continue to operate as before, including our brand, our products and our pricing. We will also continue to operate from our headquarters in Toronto and of course, the team and I will remain committed (and obsessively focused) for years to come on this important journey.

Thank you again for all your support and for being such incredible cheerleaders and ambassadors for us all along the way. We continue to be inspired by your entrepreneurial journeys and are grateful to be a small part of your financial lives.

Kirk Simpson

Co-Founder and CEO

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