Intuit considers buying Quote.com
The financial-software maker reportedly is in talks to buy privately held Quote.com, a provider of live stock-quote information and stock-charting capabilities.
The transaction with Quote.com, which is seen as helping Intuit in its fight to become a leading source of online financial information, is expected to be announced next week, the Wall Street Journal reported, citing unidentified sources..
Intuit and Quote.com declined to comment on the report. Quote.com earlier this year held talks with cable TV network CNBC about a possible buyout.
Intuit negotiated with Quote.com and its chief venture capitalist, Sequoia Capital, about a potential acquisition more than two years ago, but sources familiar with those discussions told CNET News.com that Intuit then felt the asking price was too steep.
In 1995, Intuit purchased Galt Technologies, which provides information about mutual funds and has been incorporated into Intuit's Quicken.com personal finance Web site. Intuit is building Quicken.com into a finance and investment destination site, including both information and the ability to buy or sell some products, including insurance.
Intuit is scheduled to report its quarterly earnings on Tuesday, and the company in the past has announced acquisitions with its earnings.
Charles Schwab, the largest U.S. online brokerage, said last week it will work with Intuit and its close partner Excite to create investor education programming for Excite's Money and Investing Channel on the World Wide Web.
News.com's Dawn Kawamoto and Bloomberg L.P. contributed to this report.