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Billion Dollar Digital Banking Buyout

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July 4, 2013

This week’s deal of the week is Thoma Bravo’s buyout of the US software company Intuit’s Financial Services division, a unit offering digital banking software and services. According to a press announcement, the cash transaction is valued at approximately USD 1.025 billion and is subject to regulatory review and other customary closing conditions.

 

The PE company said that it is acquiring a “richly talented team that has created an enviable integrated digital banking platform and innovative mobile solution”. Bravo’s is a buy and build strategy. (Image source: investor junkie)

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