Intuit Inc. (INTU) Monday said it completed its acquisition of Mint.com, a provider of online personal finance services based in Mountain View, California. The transaction, announced September 14, is valued at approximately $170 million. Intuit would maintain both the Mint.com and Quicken brands, and continue to offer Quicken products.
With the transaction complete, Aaron Patzer, former chief executive officer of Mint.com, becomes vice president and general manager of Intuit's personal finance group, responsible for Mint.com and all Quicken online, desktop and mobile offerings.
Inclusive of the deal, Intuit expects a reduction of approximately 2 cents to its fiscal year 2010 non-GAAP earnings per share and approximately 3 cents to its GAAP earnings per share. Intuit said it does not expect the acquisition to have a material effect on fiscal year 2011 earnings.
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