M&A Deal Summary

Intuit Acquires Eclipse

On July 29, 2002, Intuit acquired software company Eclipse for 85M USD

Acquisition Highlights
  • This is Intuit’s 9th transaction in the Software sector.
  • This is Intuit’s 18th largest (disclosed) transaction.
  • This is Intuit’s 17th transaction in the United States.
  • This is Intuit’s 2nd transaction in Connecticut.
Investment Fate
  • Eclipse was divested to a consortium of strategic buyers in 2007 for 100M USD.

M&A Deal Summary

Date 2002-07-29
Target Eclipse
Sector Software
Buyer(s) Intuit
Deal Type Add-on Acquisition
Deal Value 85M USD

Target

Eclipse

Connecticut, United States
Eclipse is a provider of business management software solutions for wholesale distributors in a number of market segments, including plumbing-heating-cooling-piping, electrical, building materials, industrial, janitorial and floor coverings.

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Buyer(S) 1

Buyer

Intuit

Mountain View, California, United States

Category Company
Founded 1983
Sector Software
Employees18,800
Revenue 16.3B USD (2024)
DESCRIPTION
Intuit's corporate headquarters in Mountain View, California.
Intuit's corporate headquarters in Mountain View, California.

Intuit is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company's flagship products and services help customers solve business and financial management problems, such as running a small business, paying bills, filing income taxes, or managing personal finances. ProSeries and Lacerte are Intuit’s tax preparation offerings for professional accountants. Intuit's products and services are available in the United States, Canada, the United Kingdom, Australia, India and Singapore. Intuit was formed in 1983 and is based in Mountain View, California.


DEAL STATS #
Overall 17 of 55
Sector: Software M&A 9 of 17
Type: Add-on Acquisition M&A Deals 14 of 51
State: Connecticut M&A 2 of 2
Country: United States M&A 17 of 49
Year: 2002 M&A 4 of 5
Size (of disclosed) 18 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-10 CBS Employer Services

Fort Worth, Texas, United States

CBS Employer Services, Inc., through its subsidiary, provides outsourced payroll solutions and other specialized employer related services.

Buy $78M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-08-14 Numara Software

Tampa, Florida, United States

Numara Software, Inc. the former Blue Ocean Software business unit of Intuit Inc. is a provider of IT help desk and asset management software solutions to small and medium-sized businesses. The company’s core product, Track-It!, enables IT professionals to collect, assign and resolve help desk requests and audit their internal hardware and software assets.

Buy $170M