(Bloomberg) -- Intuit Inc. will sell its QuickBase software-development unit to a private equity firm as part of a broader effort to unload three of its divisions and focus on its main tax and small-business units.

QuickBase, which helps businesses create applications, will be purchased by Welsh, Carson, Anderson & Stowe LP, according to a joint statement Tuesday. Terms weren’t disclosed. The unit, which joined Mountain View, California-based Intuit through an acquisition in 1999, will operate as a stand-alone company with headquarters in Cambridge, Massachusetts, Welsh Carson said.

Register or login for access to this item and much more

All Information Management content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access