Intuit, the business company that focuses on small and medium scale enterprises, has acquires Elastic Intelligence. Elastic Intelligence created Connection Cloud, which is a product that helps SMEs create do it yourself cloud based applications. The terms of the deal were not disclosed.
The founder of Elastic Intelligence is Roger Sippi, which also established Informix, Vantive and Visigenic. Informix was sold to IBM for US$1 billion and Vantive is now part of Oracle.
Intuit, with the purchase, is planning to integrate the Connection Cloud technology through its Intuit QuickBase, the company's database software program. Sippi, who joins Intuit as part of the deal, said that the idea is to entice more small and medium businesses with the promise of ease of development of their own applications, avoiding the need for the engagement of expensive developers or high end API programming.
According to Allison Mnookin, Vice President and General Manager of Intuit, through a blog post, said, "The Connection Cloud product is a breakthrough solution that makes it much easier to access and share data in the cloud. Through this acquisition, we'll help solve a huge pain point: building applications that integrate ans access data across multiple systems without having to custom code to increasingly fragmented APIs."
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