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Intuit completes buyout of Mint.com

Intuit completes purchase of personal finance site Mint.com for $170M

  • On 5:28 pm EST, Monday November 2, 2009

MOUNTAIN VIEW, Calif. (AP) -- Tax and finance software maker Intuit Inc. on Monday said it completed its purchase of the Web site Mint.com.

With closing of $170 million deal, which was announced in September, Aaron Patzer will shift from CEO of Mint.com to vice president and general manager of Intuit's personal finance group, which also includes Quicken products.

Intuit said it will keep both brand names. Quicken products will still be sold, and Mint.com will remain a free Web site, but the company also plans to integrate the two lines to offer new services.

The acquisition is expected to result in a charge of three cents per share in fiscal 2010.

Intuit shares closed Monday up 7 cents at $29.14.

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