Intuit Expands Reach Into SMB Market
Intuit (NASDAQ:INTU) has signed a definitive agreement to acquire Menlo Park-based Homestead Technologies, a provider of Web site and Web store solutions for small businesses.
The purchase, expected to be completed by spring 2008, will allow Intuit to offer Web site creation and e-commerce solutions to small business customers. Homestead provides affordable, easy-to-use tools and services to help small businesses compete more effectively and win more business.
"This acquisition supports our growth strategy in small business by addressing an underserved need, and continues Intuit’s move beyond financial management solutions into helping small businesses solve other important problems," Brad Smith, senior vice president of Intuit's small business group, said in a statement. "Homestead helps us solve one of small businesses' highest priorities -- attracting customers -- by helping them succeed on the Web."