Financial software company Intuit has finally found a buyer for Demandforce, the online marketing and communication software for small businesses.
Founded out of Palo Alto, California in 1983, Intuit is one of the more recognizable brands in the finance software realm, developing tools that allow accountants, freelancers, and small businesses to manage and prepare their finances and taxes. Back in 2012, Intuit acquired Demandforce for a hefty $424 million, but three years later Intuit revealed it was to divest three of its businesses — Quicken, Quickbase, and Demandforce.
Internet Brands, an online media and software services firm based out of El Segundo, California, said it was buying Demandforce to bolster its “rapidly growing presence in the SMB software services space, particularly in the Health category,” according to a press release. “Demandforce’s success in health-related categories including medical and dental practices aligns strategically with Internet Brands’ intense focus on the same target markets,” explained Bob Brisco, CEO of Internet Brands.
Following the acquisition, Internet Brands said it will now be serving 50,000 clients with a strong focus on the health industry. Demandforce will live on as a brand, and its existing team will continue to work from its base in San Francisco. Terms of the deal were not disclosed.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and ... All Intuit news »