Intuit Inc. announced that it has completed the sale of its Intuit Information Technology Solutions business to Boston-based TA Associates, a private equity and buyout firm.
Intuit, which announced its decision to sell the business in May 2005, will receive approximately $200 million in cash. Intuit had entered the technology solutions business by acquiring Blue Ocean Software Inc. in September 2002, and expects to report a pre-tax net gain on the sale of approximately $40 million in the second quarter of 2006.
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