M&A Deal Summary

Intuit Acquires American Fundware

On June 3, 2002, Intuit acquired internet software and services company American Fundware for 22M USD

Acquisition Highlights
  • This is Intuit’s 5th transaction in the Internet Software and Services sector.
  • This is Intuit’s 26th largest (disclosed) transaction.
  • This is Intuit’s 14th transaction in the United States.
  • This is Intuit’s 1st transaction in Colorado.
Investment Fate
  • American Fundware was divested to a consortium of strategic buyers in 2004 for 11M USD.

M&A Deal Summary

Date 2002-06-03
Target American Fundware
Sector Internet Software and Services
Buyer(s) Intuit
Deal Type Add-on Acquisition
Deal Value 22M USD

Target

American Fundware

Denver, Colorado, United States
American Fundware, Inc., is a provider of accounting and business management solutions to the public sector, including nonprofit organizations, universities and individual government agencies.

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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 14 of 55
Sector: Internet Software and Services M&A 5 of 25
Type: Add-on Acquisition M&A Deals 11 of 51
State: Colorado M&A 1 of 1
Country: United States M&A 14 of 49
Year: 2002 M&A 1 of 5
Size (of disclosed) 26 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-11-05 Omware

Sebastopol, California, United States

OMware, Inc., is a provider of business management software for construction companies.

Buy $42M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-04 Management Reports

Cleveland, Ohio, United States

Management Reports, Inc. is a provider of business management software solutions for commercial and residential property managers. MRI offers a full range of solutions targeted to the office, industrial, retail and residential real estate segments - from in-house, standalone software to Web-based outsourced solutions.

Buy $92M