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Intuit Inc. Message Board

  • boratnumber1 boratnumber1 Aug 22, 2012 1:28 PM Flag

    Intuit Acquisitions

    I posted a topic after Intuit sold part of its online banking business to Bottomline for a price much lower than it paid when it acquired the business. Now Intuit is selling its "websites" business (the previously acquired Homestead) for less than it paid. At the same time, the company is announcing a rather large acquisition. Based on their history, I am not sure shareholders should support any acquisitions. When is someone going to challenge management on their ability to either (1) properly identify and analyze potential targets or (2) conduct sufficient due diligence or (3) effectively integrate acquired companies. Quite possibly a combination of all of the above.

    I realize the company generates tons of cash and believe turbo tax & quickbooks (and related products) will continue to drive that. I would suggest that the current price has already full priced that into Intuit's value. I would rather the company either buy more shares back or increase its dividends than squander cash on more acquisitions that are doomed to failure unless the company gets a finance or corporate development team that knows what it is doing.

    Would like to understand if people feel differently and if so why.

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