Laliwala IT Services

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Sunday, April 29, 2012

U.S. tax filers rely on its annually updated software, Intuit made some other news April


Fresh off yet another tax season in which a high percentage of U.S. tax filers rely on its annually updated software, Intuit made some other news April 27 by announcing the acquisition of Demand Force Inc. for Amount $ 423.5 million in cash. Demand Force, based in San Francisco, produces mobile device, email, and social-networking tools that help small and mid-size businesses to automate their marketing and customer communications. Demand Force also incorporates online user reviews into its package. Mountain View, Calif.-based Intuit, which makes TurboTax and QuickBooks, said that Demand Force will accelerate the company's strategic expansion into other types of high-value software as service products for small businesses. Intuit has expanded beyond desktop software into delivering cloud-based software and services. Naturally, this includes its specialities: tax preparation for households, personal and small-business bookkeeping, and small-business payroll processing. The company also said Demand force has achieved strong traction in vertical industries such as health care, dentistry, automotive, optometry and chiropractics. The transaction is expected to add one to two percentage points to Intuit's revenue growth in fiscal Year 2013. The deal is expected to close in May.

Source: E Week

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