Intuit Acquires Demandforce For $424 Million
Intuit has made an agreement to acquire Demandforce for $424 million. Demandforce is a small-business marketing company. Intuit is known as the company behind TurboTax, QuickBooks, and Quicken. Intuit will integrate Demandforce into their software-as-a-service division. Demandforce is known for offering e-mail, mobile, and social software to help small and medium sized businesses connect with customers and drive a higher retention.
“Demandforce sits at the sweet spot of Intuit’s SMB customer base and is consistent with our goal to help our customers save time and make money,” stated Intuit EVP and general manager of the company’s Small Business Group Kiran Patel. “With a compelling customer value proposition, SaaS model and high growth profile, Demandforce will provide opportunities to grow Intuit’s customer base and revenue per customer over time.”