Intuit Sells Financial Services Division, But Keeps Mint.com

Monday, July 01, 2013 16:13
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Intuit Sells Financial Services Division, But Keeps Mint.com

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Intuit Inc. today announced that Thoma Bravo has entered into a definitive agreement with Intuit to acquire its Intuit Financial Services division (IFS). The cash transaction is valued at approximately $1.025 billion and is expected to close in the next few months.

This Website Is For Financial Professionals Only


The transaction, Intuit says, includes the sale of Intuit’s Internet banking platform, digital payments, mobile banking, Purchase Rewards, FinanceWorks, and digital banking add-on solutions as well as third-party solutions. However, OFX connectivity and Mint.com will remain with Intuit as does Quickbook, Quicken, and TurboTax.

 

Mint is a widely used online financial advice platform for self-directed investors.

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