With a promise to make new types of online banking services , fiscal computer software vendorIntuithas tally to corrupt fiscal service provider Digital Insight for $ 1.35 billion in cash .
Intuit take theQuickenandQuickBooksfinancial management computer software , whileDigital Insightprovides outsource cyberspace banking services to thousands of financial institutions .
The society will build penny-pinching ties between the work flow in Intuit ’s software program and the serving from Digital Insight , in a bidding to make banking online better for consumer and small businesses , they said in announcing the wad Thursday .
“ The next genesis of online banking will give a more personalized and intelligent substance abuser experience that look more like Amazon or eBay than most fiscal institutions do today , ” said Jeff Stiefler , Digital Insight ’s chairperson , president and chief executive ship’s officer , in a conference call .
Through the mass , Intuit hope to grow its revenue by persuading more banking company to outsource their online banking service instead of build their own , said Steve Bennett , Intuit president and chief executive officer .
Intuit has agreed to pay $ 39 in hard cash for each share in Digital Insight , a premium over its closing share damage of $ 33 on the Nasdaq stemma grocery Wednesday .
The caller together will attend to nigh to 5,000 fiscal institutions , 25 million consumer and 7 million humble businesses , they said .
Digital Insight will bear on to control from its facilities in California and Georgia . Its business will be part of a novel fiscal institutions line of work class within Intuit , with Stiefler serving as its Chief Executive .
The company expect to shut the deal in the first quarter next yr , subject to regulative review , the approving of Digital Insight stockholder , and other closedown conditions .
Digital Insight grew its revenue by 16 per centum in the third quarter of 2006 , to $ 61.9 million , although it describe a loss on a GAAP ( mostly take method of accounting principles ) basis , of 76 centime per portion , including expenses relate to parentage options and a tumid harm charge .
In gain to Intuit ’s Mac versions of Quicken , QuickBooks , andTurboTax , Intuit chairman Bill Campbell sit onApple ’s Board of Directors .
