Mountain View, Calif. -- Intuit, the Mountain View-based developer of business and financial management software, said that it will pay $170 million in cash to acquire Homestead Technologies, a Menlo Park-based developer of tools designed to help small businesses create web sites and online stores. "This acquisition supports our growth strategy in small business by addressing an underserved need," said Brad Smith, the senior vice president of Intuit's small business group. The deal is expected to close by the end of March, when Homestead will become part of Intuit's small business group. Justin Kitch, the founder and CEO of Homestead, will continue to manage the business.
http://www.homestead.com
http://www.intuit.com
http://www.intuit.com/about_intuit/press_room/press_release/2007/1126.jhtml
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