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Intuit Acquires SecureTax.com

Intuit Inc., maker of the popular Quicken and Turbo Tax finance software, is buying SecureTax.com, a provider of Web-based tax preparation and filing services.

All of SecureTax.com's operations will be folded into Intuit's tax division. No other terms of the acquisition, announced late Thursday, were disclosed.

The acquisition was made to strengthen Intuit's position as a financial resource online, said Bill Harris, president and CEO of Intuit.

"With SecureTax.com, we will gain the economies of scale that enable us to continue to invest in the development and maintenance of our high-quality Web-based tax services and to provide these services to more people at even more competitive prices."

In addition to the Quicken financial software, Intuit offers TurboTax and WebTurboTax, designed to help people prepare and file tax returns.