Intuit to buy banking software rival

Iria · Nov 30, 2006, 06:10 PM

Source: MSNBC
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Financial software maker Intuit Inc. said Thursday it agreed to acquire banking software company Digital Insight Corp. in a cash deal valued at about $1.35 billion.

Under the terms of the agreement, Intuit, the maker of TurboTax and Quicken software, will pay $39 per share for Digital Insight, a Calabasas, Calif., provider of online banking software used by financial services institutions. The price marks an 18 percent premium to Wednesday's close of $33 for Digital Insight shares.

Nov 30, 2006, 06:10 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 87	Intuit to buy banking software rival Source: MSNBC ________ Financial software maker Intuit Inc. said Thursday it agreed to acquire banking software company Digital Insight Corp. in a cash deal valued at about $1.35 billion. Under the terms of the agreement, Intuit, the maker of TurboTax and Quicken software, will pay $39 per share for Digital Insight, a Calabasas, Calif., provider of online banking software used by financial services institutions. The price marks an 18 percent premium to Wednesday's close of $33 for Digital Insight shares.