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Tracking the consumer evolution of financial services

Intuit to acquire online banking specialist | CNET News.com

 Intuit continue their foray into online banking, and in particular the focus on the under-served small business market, with this highly significant acquisition of Digital Insight.

Digital Insight specialise in provision of online banking for mid sized US banks.

Intuit announced on Thursday plans to acquire on-demand applications provider Digital Insight for $1.35 billion in cash, giving Intuit deeper inroads into the banking industry.

Intuit, a financial-management software maker that focuses on consumers and small businesses, will pay Digital Insight shareholders $39 per share for each common share they own. The deal is expected to close in the first quarter.

Source: Intuit to acquire online banking specialist | CNET News.com

 

Written by Colin Henderson

November 30, 2006 at 11:36

Posted in online+banking

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