The Mountain View, Calif.-based software wants to part ways with the desktop package because it sees its future in the cloud. However, the company says that Quicken remains a viable product.
"Quicken is a strong, healthy business and remains America's No.1 personal finance software," CEO Brad Smith said during the webcast. But in his prepared remarks, he continued that Quicken, "does not strengthen the small business or tax ecosystems." Smith said Intuit would seek a buyer who would provide Quicken users with "the support they deserve."
Intuit displays at its headquarters the kitchen table at which Scott Cook conceived the first thought that led to Quicken after his wife complained about reconciling her checkbook.
QuickBase is another product that Intuit has had on the market a long time. Founded in 1999, it is a software tool used too develop applications. Smith referred to the decision enabling the companies to better serve "needs of our respective, but distinct, customers." How distinct is shown by a phrase on the QuickBase section of the Intuit website: "Used by more than half of the Fortune 100."
Demandforce, which provides marketing for small business, is a more recent deal. Intuit purchased the company for $424 million in 2012.
