Intuit to sell financial services unit for $1 bln
July 1 (Reuters) - Intuit Inc said it would sell its financial services unit to private equity firm Thoma Bravo for $1.03 billion as it focuses on its core tax-preparation software business.
Intuit, the maker of tax-preparation software TurboTax, will use proceeds from the deal to repurchase shares, the company said in a statement.
Intuit Financial Services provides online and banking software to financial institutions.
- U.S. immigration protesters drop U.S. border blockade plan
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- About 60,000 Syrian Kurds flee to Turkey from Islamic State advance |
- White House intruder was armed with knife: officials
- Exclusive: Iran seeks give and take on militants, nuclear program