Wave Financial, the financial management software developer backed by National Australia Bank, Royal Bank of Canada and Power Corporation, has been bought by H&R Block for $405m in cash.

Consumer tax services provider H&R Block (HRB) agreed yesterday to purchase Wave Financial, a Canada-based accounting software provider backed by financial services firms National Australia Bank and Royal Bank of Canada (RBC), for $405m. The all-cash transaction is expected to conclude within the next few months. Wave’s leadership team, including co-founder and chief executive Kirk…

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