Intuit selling Quicken to P-E firm

|About: Intuit Inc. (INTU)|By:, SA News Editor

P-E firm H.I.G. Capital will be acquiring Intuit's (INTU +0.4%) Quicken personal finance/money management software unit, Quicken chief Eric Dunn discloses. The sale price remains unknown.

CFO Neil Williams stated last week Intuit (NASDAQ:INTU) expects ~$500M in combined proceeds from the sale of its Demandforce, QuickBase, and Quicken units, and that the transactions will be finished in the April quarter. The sale of Demandforce to Internet Brands was announced in January.

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