Intuit Sells Software Unit - TheStreet

Intuit Sells Software Unit

It will sell its Eclipse business for $100 million.
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Mountain View, Calif.-based

Intuit

(INTU) - Get Report

has agreed to sell a wholesale vertical-distribution software unit to

Activant Solutions

.

Activant, based in Livermore, Calif., is buying the Eclipse Distribution Management Solutions business for $100 million in cash, according to the companies. The deal is expected to close in August.

Eclipse enterprise resource planning software for wholesale distributors integrates accounting, order processing, inventory control, purchasing, customer service and e-commerce.

Intuit shares were down 6 cents, or 0.2%, to $29.40 in after-hours trading.

Eclipse business software serves industrial, automotive and construction verticals. Intuit is best known for its QuickBooks, Quicken and TurboTax software.