Intuit Purchases Mint.com

Intuit Inc. has decided to purchase Mint.com, a popular personal finance website, for $170 million in a move to increase Intuit’s capabilities as a tax and financial management service provider. The move comes at a time when personal finance computer service surges in popularity as more and more people strive to manage their money more efficiently.
 
Intuit’s business stems from its process that allows consumers to file their taxes online, as opposed to having to purchase physical software to accomplish the same thing. While the company’s revenue slowed last quarter, the traditional packaged software tax programs have also experiences smaller sales in stores, perhaps signaling the eventual dominance of Software as a Service, or SAAS.
 
With its acquisition of Mint.com, Intuit’s consumers and small-businesses customers will be able to take advantage of Mint.com’s services. The website allows users to keep their bank, brokerage, and credit card information in one secure place so that they can manage their finances with the advantage of a broad financial overview.

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