TaxAct makes professional and consumer tax software, but Cinven talked about combining the consumer business with Drake’s professional software business. Cinvin made what was described only as a “substantial investment” in privately held drake Software in a February 2021 announcement.

TaxAct had revenue of $235.4 million for the first half ended June 30, which included tax season, an increase of 9.5 percent from $215.8 million a year earlier. The bulk, $216. 2 million this year, came from consumer software and represented an increase of 8.4 percent from $199.4 million.

 Revenue from sales to tax professionals was slightly less than $16 million, an increase of 11.8 percent from $14.3 million in the prior year’s first half.

TaxAct is owned by Blucora, which will rename itself as Avantax to concentrate on its wealth management business. Blucora had been under pressure from some investors to sell TaxAct as being unrelated to wealth management.