Intuit puts venerable Quicken up on the block | Computerworld

Intuit yesterday announced that it would sell its Quicken unit, the group that creates the personal finance software that made the company famous.

The news — and Intuit management’s explanation for the sale — illustrated the retreat of personal computer desktop software and the rise in cloud- and subscription-based services. It also distressed users, who wondered whether the banking and investment software would survive, and if not, how they would replace a program they’ve relied on for years, sometimes decades.

On a conference call with Wall Street analysts Thursday, CEO Brad Smith said Intuit would focus on its small business and tax software, represented by QuickBooks and TurboTax, respectively — both have strong cloud- and subscription-based businesses — and is ditching Quicken because, as a strictly desktop product, it has neither.

Read entire report here. http://www.computerworld.com/article/2974592/mac-apps/intuit-puts-venerable-quicken-up-on-the-block.html

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