Acquisitions and Carve-outs
In 1993, Intuit acquired Chipsoft, a tax preparation software company based in San Diego.
In 1994, Intuit acquired the tax preparation software division of Best Programs of Reston, VA.
In 1994, Intuit acquired Parsons Technology from Bob Parsons for $64 million.
In 1996, Intuit acquired GALT Technologies, Inc of Pittsburgh, PA.
In 1998, Intuit acquired Lacerte Software Corp., which now operates as an Intuit subsidiary. The Lacerte subsidiary focuses on tax software used by professional accountants who prepare taxes for a living. It is generally used by larger firms with more complex workflows and clients.
In 1999, Intuit acquired Computing Resources Inc. for approximately $200 million. This acquisition allowed Intuit to offer a payroll processing platform through its QuickBooks software program.
In December 1999, Intuit purchased Rock Financial for a sum of $532M. The company was renamed Quicken Loans. In June 2002, Rock Financial founder Dan Gilbert led a small group of private investors in purchasing the Quicken Loans subsidiary back from Intuit.
In 2002, Intuit acquired Management Reports International, a Cleveland-based real estate management software firm. The firm was renamed Intuit Real Estate Solutions (IRES) and offers real estate management solutions for Windows and the web.
In 2003, Intuit Inc. acquired 'Innovative Merchant Solutions' (IMS). IMS provided merchant services to all types of businesses nationwide. The acquisition gave Intuit the ability to process credit cards through their core product, QuickBooks, without the need of hardware leasing. They can also provide traditional terminal based credit card processing and downloading transactions directly into the QuickBooks software.
In November 2005, Intuit acquired MyCorporation.com, an online business document filing service, for $20 million from original founders Philip and Nellie Akalp.
In September 2006, Intuit acquired StepUp Commerce, an online localized product listing syndicator, for 60 million in cash.
In December 2006, Intuit acquired Digital Insight, a provider of online banking services.
In December 2007, Intuit acquired Electronic Clearing House to add check processing power.
In December 2007, Intuit acquired Homestead Technologies which offers web site creation and e-commerce tools targeted at the small business market, for $170 million.
In April 2009, Intuit acquired Boorah, a restaurant review site.
On June 2, 2009, Intuit Inc. announced the signing of a definitive agreement to purchase PayCycle Inc., an online payroll services, in an all cash transaction for approximately $170 million.
On September 14, 2009, Intuit Inc. agreed to acquire Mint.com, a free online personal finance service for $170 million.
On January 15, 2010, Intuit Inc. spun off Intuit Real Estate Solutions (which Intuit acquired in 2002) as a stand-alone company. The new company took on its previous moniker, and is now known as MRI Software, LLC.
On May 21, 2010, Intuit Inc. acquired MedFusion, a Cary, NC leader of Patient to Provider communications for approximately $91 million.
On August 10, 2010, Intuit Inc. acquired the personal finance management app Cha-Ching.
On June 28, 2011, Intuit Inc. acquired the Web banking technology assets of Mobile Money Ventures, a mobile financial solutions provider, for an undisclosed amount.This acquisition is expected to position Intuit as the largest online and mobile technology provider to financial institutions.
On August 15, 2012 Intuit, Inc, announced an agreement to sell their 'Grow Your Business' business unit to Endurance International. The carve out included the Intuit Websites and Weblistings products which were formed from the Homestead Technologies and StepUp Commerce acquisitions.
Read more about this topic: Intuit