Intuit Sells Real Estate Solutions to Vista Equity Partners for $128 Million

Strategic Insights -

Intuit's Real Estate Solutions unit, a leading provider of software and services to the real estate management and investment industry, is being sold to Vista Equity Partners for approximately $128 million in cash. This move by Intuit is part of the company's strategy to focus on providing connected services that help consumers and small businesses. Intuit Real Estate Solutions has approximately 340 employees and serves more than 1,700 customers worldwide. The transaction is expected to close by the end of Intuit's second quarter, with the unit being treated as a discontinued operation.

Key Takeaways:

  • Intuit has signed a definitive agreement to sell Intuit Real Estate Solutions to Vista Equity Partners for approximately $128 million in cash.
  • Intuit Real Estate Solutions is a leading provider of software and services to companies in the real estate management and investment industry, with approximately 340 employees and serving over 1,700 customers worldwide.
  • The transaction is part of Intuit's strategy to focus on providing connected services that help consumers and small businesses.
  • Vista Equity Partners is a leading private equity firm with over $2.5 billion in committed equity capital, focused on investments in software and technology-enabled businesses.
  • The intended acquisition marks Vista Equity Partners' entry into the real estate management and investment software market.
  • IRES will be treated as a discontinued operation after the transaction is completed.

Statistics:

  • Transaction value: Approximately $128 million in cash
  • Employees: Approximately 340 employees worldwide
  • Customers: Serves more than 1,700 customers globally
  • Investment size: Over $2.5 billion in committed equity capital for Vista Equity Partners
  • Expected closing date: By the end of Intuit's second quarter, January 31

Sources:

  • Contify.com
  • Euclid Infotech