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The Intuit Merger
In 1995, Microsoft announced plans to acquire Intuit software, makers
of financial software including Quicken and TurboTax. Shortly
thereafter, the Department of Justice filed a complaint to the US
District Court intended to prevent the acquisition. At the time, it
is estimated that Quicken commanded 69% of the personal finance
software market share, while Microsoft Money, the competing product,
commanded 22%. The complaint argues that such the acquisition could
"harm consumers in other important areas of commerce, especially the
area of personal computer based ("PC-based") home banking" and that
Microsoft Money is viable and competitive enough a software product
that the acquisition would threaten competition in the personal
finance software maketplace.
Popular opinion suggests that considerable strain by the Department of
Justice to provide adequate documentation regarding the proposed
merger ("compliance with the request cost Microsoft $5
million in copying and legal fees") ended Microsoft's acquisition
plans.
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