Acquisitions

First day of the week is always full of events, Intuit Inc just announced that for a price of $170 million has acquired Homestead Technologies Inc with the purpose of getting more online tools for their clients- small business. The acquisition is scheduled to close early in 2008. Intuit Inc is an American software company that develops financial and tax preparation software and related services for small businesses, accountants and individuals with the headquarters in Mountain View, California. The founder is Scott Cook, while Tom Proulx is initial developer and Steve Bennett is the company CEO. Its revenues of $2038 billion are expected to decrease slightly due to the new acquisition, but that can be seen only at the end of the fiscal year in July 2008. The main goal of the purchase is to help Intuit's effort to diversify beyond its popular Quicken and TurboTax programs, which are already popular with small businesses. Quicken is a personal finance management tool, with a vast array of features. There are several versions of Quicken including, but not limited to: Quicken New User, Quicken Basic, Quicken Deluxe and Quicken Premier. Also, TurboTax is a U.S. tax software package offering different versions, including TurboTax Deluxe, TurboTax Premier, available for both Federal and state income tax returns. In conclusion the small businesses are in advantage and can benefit on the new acquisition. Furthermore, is good in case you don't really know what'all about the tax system. Enjoy!

related story: http://news.yahoo.com/s/ap/20071127/ap_on_hi_te/intuit_acquisition;_ylt=Ai663mH.80S8nd1fzyKNikms0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.