There was a time when Quicken came with every Mac sold. And just as the Mac began it’s growth period after years of stagnant sales, Intuit, the parent company of Quicken, decided to pull the plug on Mac users and stopped development of the then favorite Mac money app. Well, guess what?
Hello! Goodbye! Hello!
Following years of neglect and abandonment, a few years ago Intuit decided the Mac’s popularity might not be a fluke and introduced a newer Quicken that did less than the older Quicken circa 2007 (that’s back when the iPhone was introduced, folks). As promised, Intuit updated Quicken from time to time but the ship of customers had sailed.
During the vacuum created by Quicken’s departure years ago, many Mac app developers jumped in to fill the void, including the popular iBank (now Banktivity). Well, guess what? Intuit just sold Quicken.
Private equity firms are all the rage these days and H.I.G. Capital bought Quicken from Intuit, and, for now, Quicken’s head, Eric Dunn, will stick around to run the company. Is Intuit shedding dead weight to concentrate on doing taxes? Only Intuit execs know, but the once popular personal finance app has growing competition with online money management services.
H.I.G. says the Mac development team will grow and Quicken for Mac will end up with feature parity with the Windows version. The Mac version has languished behind the Windows version for many years.
Quicken’s head honcho says the new company will invest in cloud versions for iOS and Android devices.
Skeptical? Me, too. Let’s see what happens to the next couple of Quicken versions for Mac before passing a final judgement. I’ve been burned by Intuit before and just because there’s a new kid owner on the block doesn’t mean I should invest hard earned dollars into a PR promise.