Tech Companies Like Intuit Growing Through Acquisitions
Tech giants like Intuit are looking to mobile software and acquisitions to spur growth. The company is boosting sales of its financial-management and tax-prep software programs with online and mobile versions, which is helping to counter a slowdown in desktop software. The California company is also expanding its Mint.com website and QuickBooks Online financial software internationally, and offering a new iPhone tax-prep application that has garnered more than half a million downloads to date.
In addition to homegrown technology, Intuit may also turn to acquisitions to spur growth. The company is winning market share in desktop preparation software and long with competitor H&R Block Inc. is taking share form smaller companies in the online business. Intuit could absorb three or four acquisitions of smaller companies within a period of a year, and the company is actively seeking acquisitions.