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Short Take: Intuit to acquire Japanese firm

Intuit signed a letter of intent to acquire Nihon Micon KK, a Japanese developer and marketer of small business accounting software, for approximately $39 million. Intuit acquired another Japanese software accounting developer, Milkway KK, in January 1996. Milkyway and Nihon Micon together will become the business software unit of a new company, Intuit KK. The deal is expected to close in late February.

Intuit signed a letter of intent to acquire Nihon Micon KK, a Japanese developer and marketer of small business accounting software, for approximately $39 million. Intuit acquired another Japanese software accounting developer, Milkway KK, in January 1996. Milkyway and Nihon Micon together will become the business software unit of a new company, Intuit KK. The deal is expected to close in late February.