Microsoft-Intuit

1994-1995

In 1994, Microsoft (MSFT) proposed what would have been the software industry's largest acquisition, a $2 billion bid for financial software firm Intuit (INTU). Microsoft saw an opportunity in Intuit's recurring fees for processing online check-writing transactions, a specialty of Intuit's Quicken financial software. But Microsoft already had a financial program called Money, and together the two products accounted for 90% of the market. The U.S. Justice Dept. in April 1995 sued to block the deal, arguing the combination could have led to higher prices and less competition. Microsoft and Intuit canceled the deal a month later.