Member access

4-Traders Homepage  >  Shares  >  Nasdaq  >  Intuit Inc.    INTU   US4612021034


Delayed Quote. Delayed Nasdaq - 02/27 04:14:59 pm
97.63 USD   -0.05%
02/27DJProtect Yourself From Tax Identity Theft
02/27DJProtect Yourself From Tax Identity Theft -2-
02/25 INTUIT : to Present at Raymond James Institutional Investor Conferen..
News SummaryMost relevantAll newsSector news 

Intuit Inc. : Intuit To Buy Demandforce For $423.5 Million

04/27/2012 | 09:38am US/Eastern

Intuit Inc. (INTU) said it has agreed to acquire software company Demandforce for approximately $423.5 million in cash, as the tax-software maker looks to grow its customer base among small- and medium-sized businesses.

The deal, seen closing in May, is expected to add 1 to 2 points to Intuit's revenue growth in fiscal 2013 and to be neutral to modestly dilutive to earnings in fiscal 2012 and 2013.

Intuit, which makes TurboTax and QuickBooks, said the acquisition accelerates the company's expansion into high-value software as a service products for small businesses. San Francisco-based Demandforce's email, mobile and social tools -- which include online reviews-- help small businesses automate marketing and customer communications. Intuit noted Demandforce has achieved strong traction in industries like dental, automotive, spas, optometry and chiropractors.

Intuit has expanded beyond desktop software into delivering online software and services for tasks from tax preparation for households to small-business payroll processing. Users like the convenience and mobility of online services and Intuit has found the Internet to be an ideal tool for identifying customers' other needs and selling them additional Intuit offerings.

The company in February reported its fiscal second-quarter profit climbed 62% as its shift to online services generated better-than-expected revenue for its tax business and on strong sales in its payment products for businesses.

Shares closed at $57.60 Thursday and were inactive premarket. The stock is up 9.5% so far this year.

   -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; 

React to this article
Latest news on INTUIT INC.
02/27DJProtect Yourself From Tax Identity Theft
02/27DJProtect Yourself From Tax Identity Theft -2-
02/25 INTUIT : Delivers Strong Second-quarter Results; QuickBooks Online Subscribers G..
02/25 INTUIT : to Present at Raymond James Institutional Investor Conference
02/25 INTUIT : to Present at Morgan Stanley Technology Conference
02/24 INTUIT : Reports Season-to-date Results
02/23 INTUIT : Refutes Allegations About Security Practices
02/20 INTUIT : reports 2Q loss
02/20DJDow, S&P 500 Close at Records -- Update
02/20DJMARKET SNAPSHOT : S&P 500, Dow Hit Records On Greece Extension Deal
Duration : Period :
Intuit Inc. Technical Analysis Chart | INTU | US4612021034 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes