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

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04/27/2012 | 03:38pm CEST

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; [email protected] 

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Financials ($)
Sales 2018 5 917 M
EBIT 2018 1 950 M
Net income 2018 1 155 M
Finance 2018 897 M
Yield 2018 0,78%
P/E ratio 2018 43,45
P/E ratio 2019 36,84
EV / Sales 2018 8,41x
EV / Sales 2019 7,47x
Capitalization 50 656 M
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 192 $
Spread / Average Target -3,1%
EPS Revisions
Managers
NameTitle
Brad D. Smith Chairman & Chief Executive Officer
Michelle Clatterbuck Chief Financial Officer
Henry Tayloe Stansbury Chief Technology Officer & Executive VP
Atticus Tysen Chief Information Officer & Senior Vice President
Scott D. Cook Director
Sector and Competitors
1st jan.Capitalization (M$)
INTUIT50 656
ORACLE CORPORATION-0.15%189 664
SAP2.57%139 291
INTUIT24.37%50 656
SERVICENOW INC30.58%31 010
HEXAGON17.21%18 940