Welsh, Carson, Anderson & Stowe Acquires QuickBase from Intuit

Welsh, Carson, Anderson & Stowe, a technology-focused private equity firm, is to acquire QuickBase, a Cambridge, MA-based platform that enables users to create cloud applications, from Intuit (INTU).

The financial terms of the deal, which is still subject to customary closing conditions, including requisite regulatory approvals, and expected to close during the first half of 2016, were not disclosed.

Led by Allison Mnookin, CEO, QuickBase provides a low-code development platform that currently enables more than 6,000 business customers to create and deploy customized, purpose-built cloud applications.
WCAS intends to operate QuickBase as a stand-alone company led by Mnookin who will be joined by her existing senior management team and more than 200 employees.
Once the transaction is closed, Intuit will become one of QuickBase’s largest customers with more than 10,000 actively used apps.




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