Intuit to buy Demandforce for $423.5 mln

April 27 Fri Apr 27, 2012 9:08am EDT

April 27 (Reuters) - Intuit Inc, the maker of tax preparation software TurboTax, said it agreed to buy Demandforce, a software-as-a-service application provider, for $423.5 million in cash.

"Demandforce sits at the sweet spot of Intuit's small- and medium-sized businesses customer base and is consistent with our goal to help our customers save time and make money," said Kiran Patel, the executive vice president and general manager of Intuit's Small Business Group.