Intuit To Acquire Personal Finance Management Web Site: Report

September 14, 2009, 10:59 AM EDT

Sunday the TechCrunch Web site said a source close to the deal confirmed the acquisition and said it should be publicly announced in the next few days. Spokesmen for Intuit did not immediately respond to requests for comment.

Mint.com is a free financial services Web site that lets users create budgets, pay bills, manage credit card accounts and track stock trades, among other features.

Mint.com, which went live in October 2008, has positioned itself as an online, easy-to-use competitor to Intuit's widely used Quicken personal finance management application. The company has raised $32 million in three rounds of financing with the last round valuing the company at $140 million, according to TechCrunch.

Last December Intuit debuted the free Quicken Online personal financial service in an apparent competitive response to Mint.com.

Intuit has been steadily expanding its own presence in online services in recent years, particularly those targeting small businesses, such as its GoPayment online service businesses use to process credit card payments. In July the company acquired PayCycle, a supplier of online payroll services for small businesses, for $170 million.

Rick Whiting

Rick Whiting has been with CRN since 2006 and is currently a feature/special projects editor. Whiting manages a number of CRN’s signature annual editorial projects including Channel Chiefs, Partner Program Guide, Big Data 100, Emerging Vendors, Tech Innovators and Products of the Year. He also covers the Big Data beat for CRN. He can be reached at rwhiting@thechannelcompany.com.