Intuit to Acquire Demandforce for $423.5 Million

Intuit Inc., a provider of tax and finance software, agreed to buy Demandforce, a closely held e-mail marketing company, for $423.5 million in cash in its biggest acquisition in six years.

The deal, projected to close in May, would add one to two percentage points to Intuit’s revenue growth next year and will be neutral or “modestly” reduce earnings this and next fiscal year, Mountain View, California-based Intuit said today in a statement. San Francisco-based Demandforce generated sales of $37.5 million last year, Patrick Barry, the company’s chief marketing officer, said today in an e-mail.