Intuit buys Digital Insight

Janet Babin Dec 1, 2006
HTML EMBED:
COPY

Intuit buys Digital Insight

Janet Babin Dec 1, 2006
HTML EMBED:
COPY

TEXT OF STORY

SCOTT JAGOW: A deal to watch in the software business: Intuit makes tax and budgeting software. It’s buying Digital Insight, which provides online banking services. From North Carolina Public Radio, Janet Babin has more.


JANET BABIN: Intuit is best known for helping customers navigate IRS returns with its TurboTax software. Now that it’s purchased Digital Insight, it will also offer services to regional and community banks.

Bronto Software CEO Joe Colopy says the acquisition could help Intuit leapfrog over H&R Block and other competitors.

JOE COLOPY: If Intuit’s already strong with the consumers, and Digital Insight’s strong with the banks, by having both together in one entity, you make it very difficult for other competitors to kind of jump in there.

Colopy says the Digital Insight acquisition makes sense for Intuit now that software is increasingly delivered over the Web. Digital Insight will also provide Intuit with a steadier income stream.

I’m Janet Babin for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.