Intuit buys Digital Insight
The maker of TurboTax and Quicken branches into the world of online banking with its purchase of Digital Insight Corp. Janet Babin reports.
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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.
