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Intuit To Sell Intuit Financial Services
SAN FRANCISCO and MOUNTAIN VIEW, Calif. (7/2/13)--Intuit announced Monday that it has entered into an agreement to sell its Intuit Financial Services division to Thoma Bravo.
 
Intuit Financial Services is a CUNA Strategic Services provider.
 
The cash transaction is valued at about $1.025 billion and is subject to regulatory review and other customary closing conditions. The transaction is expected to close in the next few months.
 
The transaction will result in a stand-alone company focused on providing a digital banking platform and market-leading mobile solutions to financial institutions. 
 
The transaction includes an Internet banking platform, digital payments, mobile banking, Purchase Rewards, FinanceWorks, and digital banking add-on solutions as well as third-party solutions. Certain assets that are currently included in the IFS division, including OFX connectivity and Mint.com, will remain with Intuit.
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