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Intuit completed the sale of Quicken on April 1, 2016, and H.I.G. Capital announced that it had acquired certain assets comprising the Quicken business. Contemporary coverage described the transaction as a management buyout because Quicken leader Eric Dunn was reported to be a significant personal investor. The standalone sale price and the ownership split were not disclosed in the official transaction materials.
Who bought Quicken from Intuit?
H.I.G. Capital was the buyer. In its April 5, 2016 announcement, H.I.G. said it had closed its acquisition of certain assets comprising the Quicken business from Intuit. Intuit’s fiscal 2016 filing gives the completion date as April 1, 2016. Intuit’s annual filing and H.I.G.’s announcement describe the transaction from each company’s perspective.
Why was the deal described as a management buyout?
H.I.G. said it would partner with Quicken leader Eric Dunn and the Quicken team. The firm’s announcement framed the deal as a way to restore technology leadership and serve Quicken customers. Contemporaneous reporting described the transaction as a management buyout and reported that Dunn was a significant personal investor.
That characterization does not establish how much Dunn invested or what share of the company he owned. H.I.G.’s announcement does not disclose the equity split or investment amount, so the public record cited here supports management participation but not a detailed ownership structure.
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What was Quicken’s sale price?
A standalone purchase price for Quicken was not disclosed in the reviewed official transaction sources. Intuit characterized Quicken’s cash consideration as “not significant” in its filing, but did not provide a separate dollar amount.
The filing’s frequently cited figures—$463 million in cash proceeds and a $354 million pre-tax gain—cover the combined disposals of Quicken, QuickBase, and Demandforce. They are not Quicken’s purchase price or Quicken-specific gain. Intuit’s filing does not break out those aggregate figures by business.
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Why did Intuit divest Quicken?
Intuit had approved plans to sell Quicken, QuickBase, and Demandforce in fiscal 2015 and subsequently treated the businesses as discontinued operations. Its 2015 announcement placed the decision in the context of focusing on its core businesses, including QuickBooks and TurboTax. The sale also separated Quicken, a personal-finance software business, from Intuit’s portfolio.
In the announcement, Intuit described Quicken as a personal money management software program with more than 30 years of history. That was the company’s promotional description at the time, not an independent assessment of the product or an explanation of the deal’s valuation.
Who owns Quicken now?
Quicken’s company history says it became independent in 2016 with Dunn as CEO, and that H.I.G. sold the business to Aquiline Capital Partners in 2021. The 2016 sale to H.I.G. is therefore distinct from Quicken’s later ownership change. Quicken’s company history records the later sale.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How the 2016 sale relates to Quicken software today
Quicken is no longer an Intuit product. Its current offerings include Classic desktop software for Windows and Mac, as well as cloud-based Simplifi and Business & Personal offerings. Quicken says Classic remains desktop software with locally stored data, installed by download; a subscription does not turn it into a web-hosted program. Product names, prices, introductory offers, and renewal terms can change, so consult Quicken’s current product information and support documentation for details.
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