The transaction, valued over USD 1.025 billion, establishes Digital Insight, a new banking company. Digital Insight aims to provide an integrated digital banking platform for 11 million users. Its mobile banking suite also serves more than 4 million customers.
As part of the transaction, Digital Insight will work with Intuit to continue supporting TurboTax for online banking to financial institutions.
In early July 2013, Thoma Bravo announced it had entered into a definitive agreement with Intuit to acquire the latter’s Financial Services division.
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