Thursday, November 30, 2006

Intuit Buys Digital Insight For $1.35B

Mountain View-based Intuit said this moring that it is in a definitive agreement to acquire Calabasas-based Digital Insight, a provider of online banking services for credit unions and banks, in a deal worth approximately $1.35 billion. According to Intuit, it will pay $39 per share in cash for each Digital Insight common share. Intuit said it will combine work flows in its financial management tools with the online banking capability offered by Digital Insight. The close is expected in the first quarter of 2007, and will be financed with up to $1B in debt financing.