Yes, Quicken is no longer owned by Intuit. The popular personal finance management application was sold by Intuit to a private equity firm in 2016.
The History of Quicken's Ownership
Quicken was originally developed and offered by Intuit, Inc., a company well-known for its financial software like TurboTax and QuickBooks. For many years, Quicken was a flagship product under the Intuit umbrella, serving millions of users for their personal financial tracking and budgeting needs.
However, in 2016, Intuit made the strategic decision to divest Quicken. The software was sold to H.I.G. Capital, a leading global private equity investment firm. This sale marked a significant shift in Quicken's corporate identity and operational structure, allowing Intuit to focus more on its core small business and tax software offerings.
Here's a quick overview of Quicken's primary ownership timeline:
| Period | Owner | Key Event |
|---|---|---|
| Pre-2016 | Intuit, Inc. | Original developer and owner |
| 2016 - Present | H.I.G. Capital | Acquired Quicken from Intuit |
What Quicken Is Today
Since the acquisition by H.I.G. Capital, Quicken continues to operate as a standalone company, dedicated solely to its personal finance management software. It remains a widely used tool for tasks such as:
- Budgeting and Expense Tracking: Helping users monitor their spending and set financial goals.
- Investment Tracking: Providing tools to manage portfolios and track investment performance.
- Bill Management: Facilitating the organization and payment of bills.
- Financial Planning: Offering features for long-term financial goal setting.
The change in ownership allowed Quicken to focus on evolving its product specifically for individual and family financial management, independent of Intuit's broader corporate strategies. For more detailed information on Quicken's background, you can refer to its Wikipedia page.
