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Intuit buys Homestead Technologies – Is Intuit stock now worth investing?

Stock to watch on Tuesday (November’27’2007) is Intuit(INTU).Intuit announced on Cyber Monday 2007 (i.e November’26’2007) that it has signed a definitive agreement to purchase Homestead Technologies Inc.If you own or maintain or host a website then we know that one key component of overall marketing mix is a website that has to work for your customers and for you.Homestead Technologies from Menlo Park, California offers paid web hosting service and also is a home to Photosite, a web hosting service tailored to amateur digital photography for creating free online albums.Homestead Technologies has made web site construction much simpler with its QuickSites, a service for people who want a nicely designed Web site as fast and easy as possible.Also it has some SEO (Search Engine Optimizations) that can help increase web traffic, selling online, accepting credit card payments, designing ones own website.

Also remember that in past Intel Corp has invested an undisclosed amount in Homestead Technologies Inc.

As consumers increasingly shop online, creating a Web presence is one of the most important factors for small businesses.Just for today’s Cyber Monday 2007 it is expected that the business is around whopping $770 million dollars.Since 1996, more than 12 million businesses have used Home Stead’s award-winning products and services to establish their presence on the Web, maintain and promote their site, and sell or market their products and services—all without mastering programming or design.has been the recipient of numerous awards including: CNET “Editor’s Choice;” PC magazine “Editor’s Choice;” PC World “Best of the Web;” and Forbes “Best of the Web.I feel Homestead is in the right business at the right time which made Intuit buy this company.

A bit of Intuit news :

Intuit said the buy will enable it to offer Web-site creation and e-commerce solutions that help small businesses acquire and serve customers through the Internet. Intuit makes the popular personal finance programs Quicken and TurboTax (and its Canadian counterpart, QuickTax – TurboTax became an Intuit product via the 1993 acquisition of its creator, the California-based company Chipsoft), as well as the small business accounting program QuickBooks. Intuit has been ranked in Fortune Magazine’s “Top 100 companies to work for” for the past several years.

Google announced a strategic alliance with Intuit in the year 2007 designed to help millions of small businesses promote themselves online using a variety of popular Google services built into most QuickBooks 2007 products. The alliance combines Intuit’s deep knowledge and experience solving small business problems with Google’s expertise and reach on the Web to help small businesses address their number one objective – attracting new customers.For the first time, small businesses can use QuickBooks to market themselves online by listing their businesses on Google Maps?, creating and managing advertising campaigns with Google AdWords? and posting their products for sale on Google through Google Base? – a free product listing service.

Intuit stock over a 5 year time sloped downwards starting with $50 and is currently now at $19 (Nov’26’2007).It might not be a coincidence that Intuit revealed this acquisition on one of the most busiest online shopping Cyber Monday 2007 day. Small businesses is the key to this acquisition and I feel this may be good short term investment promise from Intuit.


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Posted By: Kalyan | Date: November 27, 2007 | Categories: Uncategorized
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