Personal finance software company Intuit will acquire online personal finance service Mint in a deal to be announced later this week, according to TechCrunch. Intuit is the company behind Quicken, QuickBooks and TurboTax.
Mint launched two years ago and quickly became the #1 online personal finance service with over 1 million users, ironically beating out Intuit’s own Quicken Online.
This could be a very good deal for customers of both companies over the long run. With the recent demise of Microsoft Money Deluxe, Quicken is now the de-facto standard in personal finance software. Founded in 1983, Intuit has been around for a long time and is a very trusted company in the personal finance software field.
Intuit struggled in the online arena though. Mint stormed out of the gates and rapidly became the #1 choice, beating Quicken Online because it was free, easy to set up, easy to use and had compelling features.
With this deal, Intuit gains a fresh perspective into what users want out of a personal finance service by adding Mint to its stable of financial services. Mint gains the resources and reputation of a long-established company in the field.
We will bring you more details when the official announcement happens.
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