TechTaffy

tech:

taffy

Intuit To Acquire Demandforce For $423.5M

By TechTaffy Desk

[Techtaffy Newsdesk]

Intuit, makers of  QuickBooks, TurboTax and Quicken, has entered into a definitive agreement to purchase Demandforce. The cash transaction is valued at approximately $423.5 million, and is expected to close in May 2012, subject to customary closing conditions.

Demandforce will become a new division in Intuit’s Small Business Group and will continue to be led by Rick Berry, Demandforce president and founder, reporting to Kiran Patel, executive vice president and general manager, Intuit Small Business Group.

Intuit is a provider of business and financial management solutions. Founded in 1983, Intuit had annual revenue of $3.9 billion in its fiscal year 2011. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, and India, among other places.

[Image Courtesy: Intuit]

Just in

Series E

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.
Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.