Intuit Is Buying For $170 Million

Update: TechCrunch confirms the acquisition and pegs the price tag at $170 million.

Original post: A tipster tells us that Intuit (INTU), the giant maker of personal and small-business software, is buying red-hot, which provides online money management tools. We have no idea if this is true, and we’re sceptical, though it certainly makes sense.

Intuit has a ton of cash and no growth. Mint is growing like crazy and would fit nicely with Intuit’s business.

Mint has raised $31 million since its founding in 2007. It raised another $14 million just back in August, which makes the timing of this rumour a bit suspect.  The tipster says the buyout price is $150 million.

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