Intuit to Sell Financial-Service Division for $1.03 Billion

Software developer Intuit Inc. disclosed plans to sell its financial-services division to private-equity firm Thoma Bravo for roughly $1.03 billion and put its health division on the market in order to focus on its tax operations.

The maker of TurboTax do-it-yourself software and QuickBooks small-business accounting software has been reshaping its business, spinning off some low-margin business services to focus on higher margin online services.

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