The Microsoft Corporation, in the software industry's largest acquisition ever, agreed today to acquire Intuit Inc., the producer of the leading personal finance program, Quicken, in a stock swap valued at about $1.5 billion.
Full Answer
When did Microsoft buy Intuit?
In October of 1994, Microsoft agreed to purchase Intuit, the software company which owns Quicken, the world's most popular personal finance manager (PFM). For $2.3 billion, Microsoft would have control over Quicken's 70 percent of the emerging PFM market. Subsequently, question is, does Intuit still own QuickBooks?
Does Microsoft own Intuit Quicken?
In October of 1994, Microsoft agreed to purchase Intuit, the software company which owns Quicken, the world's most popular personal finance manager (PFM). For $2.3 billion, Microsoft would have control over Quicken's 70 percent of the emerging PFM market. does Intuit still own QuickBooks?
What type of company is Intuit?
Intuit Inc. is an American business and financial software company that develops and sells financial, accounting, and tax preparation software and related services for small businesses, accountants, and individuals. The company is headquartered in Mountain View, California.
When did Intuit acquire innovative Merchant Solutions?
In 2003, it acquired 'Innovative Merchant Solutions' (IMS).a firm that provided merchant services to all types of businesses nationwide. The acquisition gave Intuit the ability to process credit cards through its core product, QuickBooks, without the need for hardware leasing.
Does Microsoft still own Intuit?
Who is Intuit owned by?
Does Microsoft own QuickBooks?
What brands are owned by Intuit?
- Overview.
- Lacerte Tax.
- ProConnect Tax.
- ProSeries Tax.
- QuickBooks Online Accountants.
What is owned by Microsoft?
Who owns Quicken and QuickBooks?
| Parameter | Quicken |
|---|---|
| Current Owner | H.I.G. Capital |
| Supported OS | Windows & Mac |
| Current Versions | Quicken Starter, Quicken Deluxe, Quicken Rental Property Manager, Quicken Premier, and Quicken Home & Business |
| Recommended For | Personal Finance Management |
Is QuickBooks and Intuit the same?
Where is Intuit based?
Is Intuit a product based company?
Is Intuit a Fintech company?
Who created QuickBooks?
Is Mint an Intuit product?
Who sued Microsoft for a $2.4 billion deal?
The Justice Department had sued to block the $2.4-billion deal three weeks ago as part of a two-pronged effort to blunt the growing power of Microsoft and its aggressive chairman, Bill Gates.
How much did Microsoft pay to back out of the Microsoft deal?
Microsoft paid Intuit $46.5 million to back out of the deal. In separate press conferences, Gates and Intuit Chairman Scott Cook expressed disappointment over the deal’s failure. Gates insisted that Microsoft would not change the way that it conducts business. “Our focus is building great software,” he said.
Is Microsoft Money a competitor to Quicken?
Had the acquisition gone through, Microsoft Money, a weak competitor to Intuit’s Quicken, would have been sold to Novell Inc. Quicken has about 70% of the market for personal-finance software, while Microsoft Money has about 22%.
General discussion
Has anyone seen the email ad sent out by TechRepublic advertising Microsoft Quickbooks? I checked. It's not true. Although they made an offer a number of years back, MS did not buy Intuit.
All Comments
No. Microsoft did not buy Intuit nor QuickBooks. That TechRepublic graphic appears to be just an error.
What happens after the Microsoft deal is finished?
After the deal is finished, Microsoft captures the pieces that were once its own and claims victory over the foe that was paid not to play. Because the deal was derailed, because Microsoft was forced to play without buying victory, competition has flourished.
Who owns Quicken?
In October of 1994, Microsoft agreed to purchase Intuit, the software company which owns Quicken, the world's most popular personal finance manager (PFM). For $2.3 billion, Microsoft would have control over Quicken's 70 percent of the emerging PFM market.
Overview
History
The company was founded in 1983 by Scott Cook and Tom Proulx in Palo Alto, California.
Intuit was conceived by Scott Cook, whose prior work at Procter & Gamble helped him realize that personal computers would lend themselves towards replacements for paper-and-pencil based personal accounting. On his quest to find a programmer he ended up running into Tom Proulx at Stanford. The two started Intuit, which initially operated out of a modest room on University Ave…
Current products
CEO Sasan Goodarzi oversees all products in all countries.
TurboTax Offered in Basic, Standard, Premier, and Home & Business versions, as well as TurboTax 20 for preparing multiple returns. QuickBooks Small business accounting and financial management software, offered in EasyStart, Pro, and Premier versions. QuickBooks Online Web-based accounting software designed for companies to review business financials through live d…
International operations
Intuit Canada ULC, an indirect wholly owned subsidiary of Intuit, is a developer of financial management and tax preparation software for personal finance and small business accounting. Services are delivered on a variety of platforms including application software, software connected to services, software as a service, platform as a service and mobile applications. Intuit Canada has employees located all across Canada, with offices in Edmonton, Alberta, and Mississauga, Ontario.
Online communities
Intuit has several online communities, some of which offer integration or cross-sells into its other products. These include QuickBooks online community for QuickBooks users and small business owners, Quicken Online Community for Quicken users and those who need help with the personal finances, and the Accountant Online Community and Jump Up. Each consists of blogs, an expert locator map and event calendar, forums and discussion groups, podcasts, videocasts and webin…
Acquisitions and carve-outs
In 1993, Intuit acquired Chipsoft, a tax preparation software company based in San Diego.
In 1994, the firm acquired the tax preparation software division of Best Programs of Reston, VA. In the same year, Intuit acquired Parsons Technology from Bob Parsons for $64 million.
In 1996, it acquired GALT Technologies, Inc of Pittsburgh, PA.
In 1998, it acquired Lacerte Software Corp., which now operates as an Intuit subsidiary. The Lace…
Lobbying
In 2007, Intuit lobbied to make sure taxpayers cannot electronically file their tax returns directly to the IRS by negotiating a deal preventing the IRS from setting up its own web portal for e-filing.
In 2009, the Los Angeles Times reported that Intuit spent nearly $2 million in political contributions to eliminate free online state tax filing for low-income residents in California. According to the New York Times, from 2009 to 2014, Intuit spent nearly $13 million lobbying, as reported by Ope…
Lawsuits
An antitrust lawsuit and a class-action suit relating to cold calling employees of other companies were settled out of court along with Apple and Google.
In March 2015, The Washington Post and computer reporter Brian Krebs reported that two former employees alleged that Intuit knowingly allowed fraudulent returns to be processed on a massive scale as part of a revenue-boosting scheme. Both employees, former security team members fo…