The fact that Intuit sold its Fundware not-for-profit accounting package at a fire sale price was less important than the fact it illustrated--that the NFP market has shifted dramatically over the last three years.
The basic facts are that Intuit sold Intuit Public Sector Solutions, the unit that marketed Fundware, for $11 million in cash, after having acquired the product in the spring of 2002 for $23 million in stock and $4 million in cash. It was not exactly a successful endeavor for Intuit.
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