Summary
Intuit Inc. has announced the sale of its wholly-owned subsidiary, Digital Insight Corporation, to Thoma Bravo Fund X, L.P. for approximately $1.025 billion in cash. This divestiture is part of Intuit's ongoing strategy, potentially involving organizational realignments and strategic outcomes. The transaction is expected to close within the next few months, subject to regulatory review and standard closing conditions. Intuit will also provide certain technology access and transition services to Digital Insight post-acquisition.
Key Highlights
- 1Intuit Inc. to sell Digital Insight Corporation to Thoma Bravo Fund X, L.P.
- 2Sale price of approximately $1.025 billion in cash.
- 3Digital Insight will become a wholly-owned subsidiary of Thoma Bravo.
- 4Transaction is subject to regulatory review and customary closing conditions.
- 5Closing is anticipated within the next few months.
- 6Intuit to provide post-closing access to certain technology and transition services.
Frequently Asked Questions
This filing announces a material definitive agreement for Intuit to sell its subsidiary, Digital Insight Corporation, for $1.025 billion in cash. Investors should note this divestiture and its potential impact on Intuit's future strategy and financial performance.
Digital Insight Corporation is a wholly-owned subsidiary of Intuit. While the filing doesn't explicitly state the reasons for the sale, it is presented as part of Intuit's broader strategic initiatives. The sale is a significant transaction that will reshape the company's business portfolio.
The parties expect to complete the transaction in the next few months, subject to regulatory review and other customary closing conditions.
Intuit will provide Digital Insight with access to certain technology related to its business and transition services for a period of time following the closing of the acquisition.