MOUNTAIN VIEW, Calif. — Digital Insight is now part of Intuit.
Digital Insight, a venerable online financial solutions provider in the credit union industry with its roots coming from credit union data processor XP Systems, was purchased for $1.33 billion. The deal closed on Feb. 6.
Leaders of both companies say this merger will help the combined company penetrate deeper into the small business market.
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"The rapid growth of the small business sector, combined with the growing adoption of online banking for those small business owners, creates an opportunity for us to transform the way they run their business," said Steve Bennett, Intuit's president/CEO.
Intuit will begin integrating the two companies' operations, category development, distribution models and customer support organizations to ensure a smooth transition and immediate value for customers, employees and partners. Together, the companies will serve 5,000 financial institutions, nearly 25 million consumers, and nearly seven million small businesses.
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