Intuit Finds New, More Caring Owner For Quicken

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Intuit Finds New, More Caring Owner For Quicken

Image courtesy of * tathei *

When you can’t give a pet the care that it deserves anymore, you find a new home for it. Accounting software company Intuit is packing up its original product, the personal finance program Quicken, and sending it off to live with new owners. The private equity firm H.I.G. Capital and Eric Dunn, the general manager of the Quicken brand will purchase the program and its brand.

The program, a pioneering early PC and Mac application, was the earliest piece of the Intuit financial empire, leading to the development of tax preparation software TurboTax and small business software Quickbooks, and more advanced products for professional accountants that work with the consumer tools.

Intuit will keep Mint, the cloud-based personal finance software that it acquired in 2009. Mostly, though, Intuit will focus on its services for small businesses, and Quicken will go off and do its own thing with desktop and smartphone personal finance apps.

Confusingly, Quicken Loans, the company behind a problematic ad aired during the 2016 Super Bowl, is not part of Quicken. Intuit owned the lender for a while, which is when it acquired the Quicken name, but was later spun off into a separate company.

Update on the Quicken Sale from Eric Dunn [Intuit] (via CNN)