Intuit to unveil new products, acquire Omware

NEW YORK: Financial software concern Intuit Inc. will unveil on Monday a raft

of products for small businesses that go beyond services now offered in its

well-known QuickBooks accounting software, the Wall Street Journal reported in

its online edition on Monday.

Intuit, based in Mountain View, California, is readying higher-priced

versions of QuickBooks for businesses with more than 25 employees, as well as

specialized versions of the product for certain industries, such as small

retailers and accountants, the newspaper said.

Among Intuit's competitors are Microsoft Corp and Oracle Corp. Also on

Monday, Intuit will announce its $42 million purchase of closely held software

provider OMware Inc., of Sebastopol, California, the newspaper said.

OMware makes a business-software product for construction companies called

Master Builder, offering accounting and job-estimating services.

The OMware purchase reflects Intuit's new focus on delivering more complex

services for small businesses, including human-resources management and even

software to help companies administer employee-retirement plans, the newspaper

said.

The strategy, dubbed "right for my business," is an effort to

revitalize QuickBooks, which has experienced somewhat sluggish sales recently.

(C) Reuters Limited 2001.