Digital Insight Company

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Financial software giant Intuit Inc. will buy online banking provider Digital Insight in a $1.35-billion deal designed to strengthen offerings to small businesses. The acquisition, announced Thursday, combines Intuit's financial management software -- including TurboTax and Quicken -- with Calabasas-based Insight's online banking services. "Online banking is growing rapidly, but today's solutions don't meet the needs of most small businesses," Digital Insight Chairman Jeffrey Stiefler said.

Digital Insight Corp., Calabasas, announced a net loss for the third quarter ending Sept. 30 of $2.2 million compared with a net loss of $1 million for the same period last year. Revenues increased to $4.7 million compared with $2.2 million. The company provides Internet banking solutions for community financial institutions.

Digital Insight Corp. shares had their biggest one-day drop since the Internet banking software company went public in October 1999 after saying second-quarter profit would be less than forecast. The stock fell $5.91, or 25%, to $18.26 on Nasdaq. The Calabasas-based company also plans to cut about 100 jobs, or 15% of its work force, in the next two quarters, Chief Financial Officer Liz Murray said.

Digital Insight in Camarillo has received a cash infusion of $8 million from two investors to help it further develop its home banking business. The company will receive a first-time investment of $5 million from HarbourVest Partners LLC and a second-round investment of $3 million from Menlo Ventures to be used for general corporate purposes.

Digital Insight of Camarillo has signed the 12,000th user to its AXIS home banking system on the World Wide Web. Digital Insight provides online home banking services to 17 of the 33 financial institutions that offer access via the Internet, according to Online Banking Report, a newsletter that tracks developments in cyberspace banking.

Digital Insight, a provider of Web-based home banking, has teamed with Microsoft Corp. to allow Digital's Internet banking clients to download account information to Microsoft's Money 97. All 28 of the financial institutions that use Digital to conduct on-line banking have agreed to add Money 97 to their list of financial services offerings.

Digital Insight in Calabasas announced its filing of a registration statement with the Securities and Exchange Commission for a proposed secondary offering of 4 million shares of its common stock. Digital Insight will offer about 2.2 million shares, and certain shareholders will offer about 1.8 million. The company plans to use the proceeds from its shares for general corporate purposes. Digital Insight develops and manages Internet-based banking systems for financial institutions.

Digital Insight Corp. shares had their biggest one-day drop since the Internet banking software company went public in October 1999 after saying second-quarter profit would be less than forecast. The stock fell $5.91, or 25%, to $18.26 on Nasdaq. The Calabasas-based company also plans to cut about 100 jobs, or 15% of its work force, in the next two quarters, Chief Financial Officer Liz Murray said.

Digital Insight Corp. in Calabasas reported a net loss for the first quarter ended March 31 of $20.4 million, compared with a net loss of $2.7 million for the same quarter last year. Revenues rose to $10.4 million from $4.2 million. The loss included nonrecurring merger costs of $12.7 million, the company said. Digital Insight provides Internet banking services.

Digital Insight Corp., Calabasas, reported a net loss of $5.4 million for the second quarter ended Sept. 30 compared with a net loss of $3.6 million for the like period last year. Revenue more than doubled to $12.4 million from $6.1 million. Digital Insight provides banks with Internet-based financial solutions for their retail and commercial customers.

Digital Insight Corp., Calabasas, has been named the fastest growing technology company in the Los Angeles area by Deloitte & Touche LLP. Digital Insight's five-year revenue growth rate topped the list at 19,793%. Digital Insight works with financial institutions to provide Internet-based financial services to businesses.

Digital Insight in Calabasas announced its filing of a registration statement with the Securities and Exchange Commission for a proposed secondary offering of 4 million shares of its common stock. Digital Insight will offer about 2.2 million shares, and certain shareholders will offer about 1.8 million. The company plans to use the proceeds from its shares for general corporate purposes. Digital Insight develops and manages Internet-based banking systems for financial institutions.

Digital Insight Corp. in Calabasas reported a net loss for the first quarter ended March 31 of $20.4 million, compared with a net loss of $2.7 million for the same quarter last year. Revenues rose to $10.4 million from $4.2 million. The loss included nonrecurring merger costs of $12.7 million, the company said. Digital Insight provides Internet banking services.

Digital Insight Corp. said it has completed a merger with NFront Inc. in a stock-for-stock exchange, with NFront shareholders receiving .579 shares of Digital Insight for each share of NFront stock. Calabasas-based Digital Insight provides Internet banking services to community financial institutions. Their services include development and implementation, Web site design, maintenance and hosting, customer service training and marketing.

Digital Insight, Calabasas, reported a net loss for the fourth quarter that ended Dec. 31, 1999, of $1.5 million compared to a net loss of $1.6 million for the same period the previous year. Revenues rose to $5.7 million from $2.5 million. For the year that ended Dec. 31, a net loss of $7.5 million compared to $4.4 million in 1998. Revenues more than doubled to $17.5 million from $8.2 million.

Calabasas-based Digital Insight Corp. on Monday agreed to buy rival NFront Inc. in a $439-million stock deal that would merge two of the leading Internet banking services companies. Analysts say the acquisition is a logical step in the consolidation of a relatively new industry. NFront is focused on providing Internet services to smaller community banks around the nation. Digital Insight's services are focused on credit unions.