Intuit Makes $424M Play For Cloud Firm Demandforce

Law360, New York (April 27, 2012, 4:12 PM EDT) -- Intuit Inc., the maker of personal finance software like Quicken and TurboTax, will buy marketing application firm Demandforce Inc. for $423.5 million in cash, the company said Friday, becoming the latest tech firm to shell out for a cloud-based software firm.

The acquisition is Intuit's largest since its 2006 merger with Digital Insight Corp. and is expected to add one to two points to Intuit's revenue growth in the 2013 fiscal year, the company said.

“Demandforce sits at the sweet spot of Intuit's small- and medium-sized...
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