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Quicken Purchased from Intuit by H.I.G. Capital

Intuit said last year that it was looking for a buyer for its Quicken business, and the company has now announced that Quicken will be acquired by H.I.G Capital, a private equity investment firm that has invested in and managed more than 200 companies worldwide since 1993, with combined sales of over $30 billion. Quicken head Eric Dunn shared the news and talked about where Quicken would be going in a video.

Dunn was the fourth employee at Intuit, having joined back in 1986, and he said that he’s “very aware that Quicken isn’t perfect,” and that he reads comments from customers via email, Facebook, and the Quicken Live online community. To address customer complaints, Quicken is hiring a new product manager and will be doubling the size of the engineering team within the calendar year. In its FAQ about the sale, Intuit explicitly mentions Mac support, saying:

Meeting the needs of Mac customers continues to be an important priority for the business. In fact, we’ve already identified opportunities to increase the size of the Mac development team.

Little else is slated to change. Intuit has a page for questions and comments about the sale, although there aren’t many replies from Intuit reps.

From what’s been said, it seems as though H.I.G. Capital will primarily be an investor, and Dunn says that Quicken will receive increased investment over what Intuit was providing. With Intuit out of the picture, users can hope those extra resources will result in more capable versions of Quicken appearing more quickly. But caution is still warranted — few apps have promised more and delivered less over the years than Quicken, and it’s possible the recent problems are as much with the current team as with Intuit.

Of course, if you’re sick of the Quicken soap opera, there are good alternatives (see “Your Favorite Mac Personal Finance Apps,” 29 February 2016).

 

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Comments about Quicken Purchased from Intuit by H.I.G. Capital
(Comments are closed.)

Niran Sabanathan  2016-03-04 20:52
At one time Quicken was good. Yes I was on DOS, but it was reliable and useful. I had even used it in OS 9 days. Then it all went to seed.
Florence ZELLER  An apple icon for a TidBITS Benefactor 2016-03-07 19:27
I still use Quicken 2007 and it runs fairly well (under Yosemite).
Byron Russell  2016-03-07 20:35
I was running Quicken 7 on an older Mac but couldn't upgrade because of the 6+ year old hardware. I finally upgraded my desktop to a new iMac and bought Quicken 2016. What a disappointment. Now I run 2007 on the latest iMac. At least it is faster and usable. I can't recommend 2016.
Frank Greenough  2016-03-07 21:43
I switched to Moneydance and the import from Qucken went smoothly. I have had excellent response to my questions. They keep improving their product. I have no intention of returning the the Quicken neverland.
Mike Cohen  2016-03-08 01:28
I quit using Quicken several years ago and switched to using Mint online. I like having all of my bank accounts instantly updated instead of having to manually import transactions.
Emily L. Ferguson  2016-03-08 10:30
30 years of data in Quicken, I would really not like to see it go. I've tried lots of the other options and they're all really ugly. I don't want online banking and importing info from my bank, thank you. It's way too much trouble to run around after all that data and categorize it, when I can do it from the mob of receipts in my wallet every week. But Q2007 works just fine with ElCap, so why do I need anything more.