Intuit Buys Citigroup/SK Telecom Mobile Platform

June 30, 2011

Intuit Inc., provider of popular tax preparation and accounting software TurboTax and QuickBooks, this week said it has acquired mobile Web banking technology assets from Mobile Money Ventures (MMV), a joint venture between Citigroup and SK Telecom Americas. Intuit said the transaction bolsters its Financial Services unit as an online and mobile technology provider to financial institutions. “People and businesses are increasingly using mobile devices to get and manage financial information while on the go — they’re always connected,” said CeCe Morken, president of Intuit Financial Services and a vice president at Intuit. “This acquisition will help us more rapidly bring new solutions to market so financial institutions can deliver important insights and services when and where their customers need them.”