Intuit Buys Homestead Technologies

Mountain View-based Intuit said Monday afternoon that it has acquired Menlo Park-based Homestead Technologies, a provider of web site hosting and web stores for the small business segment. Intuit said it will pay approximately $170M in cash, including assumption of outstanding options and restricted stock. Homestead Technologies provides web site creation and e-commerce services. Intuit said the transaction is expected to close in the first calendar quarter of 2008; Homestead will become part of Intuit's small business group.