Techcrunch broke the news yesterday that Intuit will acquire Mint for $170m. Mint is a free service and as far as I know was not generating significant revenues. There is no prominent advertising on their site.
It is great news that a deal like this has happened. It has been my fear that corporate M&A teams would be too afraid to pay significant sums for companies where they couldn’t see profits coming soon with reasonable certainty.
In difficult times like these people often think that no deals happen at all. In fact the world keeps turning and deals keep happening, just at a slower rate. This acquisition is evidence of that, and maybe also a sign that the market is starting to turn.