Quicken Sale to H.I.G. Capital
Dear OFX Partner,
In August 2015, Intuit announced plans to find a new owner for Quicken. Intuit has completed its agreement to sell Quicken to H.I.G. Capital (http://higcapital.com/), a leading private equity firm with a track record of investing in and building strong businesses. Quicken will thrive with increased investment, leading to product improvements and advances that will allow Quicken to continue to serve customers well for decades to come.
If you have a connectivity agreement with Intuit:
Intuit will continue to manage the financial data connectivity for Quicken, and will continue to be the primary interface for financial institutions. If you have an agreement with Intuit for Quicken data connectivity, that agreement remains in force. Your customers will continue to use Quicken with your products and services.
If you need support:
Financial institutions will continue to work with their current Intuit Account Manager for sales and relationship support. Financial institutions will continue to work with the Intuit OFX Connectivity Group for OFX Technical Services.
If you have any questions, please contact your Account Manager.
The OFX Connectivity Group
Quicken Sale Q&A
Intuit has entered into an agreement to sell Quicken to H.I.G. Capital.
Why did Intuit choose to sell Quicken?
Two years ago Intuit refocused the company strategy. In August 2015, Intuit announced its intent to divest Demandforce, Quicken and QuickBase, because these businesses do not align with Intuit’s strategic focus.
How will my organization be invoiced for connectivity to Quicken moving forward?
Intuit will continue to invoice you for OFX connectivity and related services within our existing agreement. To prevent service disruptions, invoices must be paid to Intuit by the contracted due date.
Do I need to do anything in response to this change?
If you use Quicken logos or box shots on your website, yes, you will need to change them to the new updated logos at fi.intuit.com. The Quicken logo and box shots are different.
Are the customer care phone numbers changing?
No, you can still call Quicken care at 650-250-1900, Monday through Friday, 5 am to 5 pm Pacific.
How can I keep up to date on changes that might affect me?
The Quicken team at H.I.G. Capital will continue to post updated information on the Quicken Community website at Quicken.com.
Will Quicken continue to release annual updates/improvements/features?
While we do not yet know the release schedule, the Quicken development team will continue to improve the product and the customer experience.
Will Quicken continue to invest in the Mac offering?
Absolutely. Meeting the needs of Mac customers continues to be an important priority for the business. In fact, they’ve already identified opportunities to increase the size of the Mac development team.
Intuit has completed the Quicken sale to H.I.G. Capital, and as part of the planned transition, H.I.G. Capital is going to implement a Quicken ID.
Who will this impact?
This will impact all of your customers using Quicken, but we expect customers to be able to handle this themselves.
What does this mean for my customers?
Intuit uses an Intuit ID to keep customer information synchronized between Intuit product families. Because of Quicken's transition from Intuit to H.I.G. Capital, a customer's Intuit ID will no longer work with Quicken. Instead, Quicken customers will be prompted to update Quicken and create a new Quicken ID for use with Quicken.
They will still use their Intuit ID with Intuit products such as Mint, QuickBooks or TurboTax Online. The Intuit ID and Quicken ID are totally separate.
Other than updating the software, creating the Quicken ID, and using that in Quicken going forward, your customers do not need to reconfigure anything on their computers.
What kinds of questions will we get from customers?
You may get questions from customers about why the transition is taking place, or why they need to create a new ID. Nothing will change in terms of connectivity, and the customer impact is limited to creating a Quicken ID and using that in Quicken going forward.
What kinds of support issues will this create?
Some of your customers may need help updating their software, but we expect the impact to be minimal.