Intuit Inc said it would sell its financial services unit to private equity firm Thoma Bravo for $1.03 billion as it focuses on its core tax-preparation software business. Intuit, the maker of tax-preparation software TurboTax, will use proceeds from the deal to repurchase shares, the company said in a statement.
Intuit Inc. (Intuit) is a provider of business and financial management solutions for small businesses, consumers, accounting professionals and financial institutions. Shares of INTU remained unchanged at $61.04. In the past year, the shares have traded as low as $55.54 and as high as $68.41. On average, 2680550 shares of INTU exchange hands on a given day and today's volume is recorded at 11270.
Source
