' confident, as am I, that Quicken will thrive with increased investment, leading to product improvements and advances that will allow Quicken to continue to serve you well for decades to come,' Dunn said. Capital, a global private equity firm that manages some $19 billion.Įric Dunn, the head of Quicken, announced the sale in a message and video posted to Intuit's website. Quicken's contributions to Intuit's bottom line have been minuscule: In the 12 months preceding the August announcement, Quicken, which starts at $35.10 ( Amazon price), contributed just $51 million to the firm's total revenue of nearly $4.2 billion, or slightly more than 1%.īut the company pledged to find a buyer who would invest in the 33-year-old Quicken software. 'Our strategy is focused on building ecosystems and platforms in the cloud.' 'Quicken is a desktop-centric business and it doesn't strengthen the small business or tax ecosystems,' said chief executive Brad Smith in a conference call with Wall Street last year. Last summer, Intuit's CEO explained that Quicken, which unlike QuickBooks and TurboTax lacked a cloud-based service or subscription offer, was essentially a dead end for the company.
