Intuit To Divest Its SMB Marketing Automation Solution
- Written by Kim Zimmermann
- Published in News Briefs
Intuit plans to sell off several parts of its business, including its Demandforce marketing automation solution designed for SMBs. The company will also divest its QuickBase and Quicken units to focus on its small business operating system and Turbo Tax division.
The announcement came as part of the company’s latest earnings announcement, which highlighted fiscal 2015 revenue of $4.2 billion.
"Divesting Demandforce, QuickBase and Quicken enables both Intuit and these businesses to focus on meeting the needs of their respective customers, while allowing Intuit to accelerate our ability to deliver on our objectives," said Neil Williams, CFO of Intuit. "We are confident about finding the right outcome for each business. Until then, we will continue to sell and support all of our current products; we will not waver in our commitment to customers’ success."