Intuit Completes Sale of Real Estate Solutions to Vista Equity Partners for $128 Million

Intuit Inc. (NASDAQ:INTU) has finalized the sale of Intuit Real Estate Solutions to private equity firm Vista Equity Partners for $128 million. The acquisition is expected to boost Vista's presence in the software and technology-enabled business sector. Intuit Real Estate Solutions, headquartered in Highland Hills, Ohio, will now operate as a discontinued business segment for Intuit.

Key Takeaways:

• Intuit Real Estate Solutions, a former subsidiary of Intuit Inc., has been sold to Vista Equity Partners for $128 million.
• The acquisition is part of Intuit's global business segment, providing software and services to real estate management and investment industry companies.
• Intuit will treat its Real Estate Solutions business as a discontinued operation following the sale.
• Intuit operates in seven business segments, including Financial Management Solutions, Employee Management Solutions, Payments Solutions, Consumer Tax, Accounting Professionals, Financial Institutions, and Other Businesses.
• The company acquired PayCycle, Inc. on July 23, 2009.
• Vista Equity Partners is a private equity firm with a focus on investments in software and technology-enabled business.

Statistics:

• The sale of Intuit Real Estate Solutions is valued at $128 million.
• Intuit operates in seven business segments, providing a range of software and services to various industries.
• The company's acquisition of PayCycle, Inc. on July 23, 2009, marked a significant expansion of its financial management solutions.

Sources:

• "Intuit Completes Sale of Real Estate Solutions to Vista Equity Partners" (Copyright 2010 Euclid Infotech, distributed by Contify.com)
• "Intuit Real Estate Solutions" (Euclid Infotech)
• "Vista Equity Partners" (Euclid Infotech)