Intuit circling Entellium assets

According to TechFlash, Intuit has made an offer to buy the assets of Seattle startup Entellium. The report cites an interview with Entellium spokesperson Diane Carlini, as well as an anonymous source who puts the purchase price at about $8 million. That's well below the more than $40 million that Entellium raised from venture capital firms Ignition Partners, Intel Capital and Sigma Partners.

The asset sale is the latest twist in the ongoing saga of Entellium, which has imploded in the past two months after top executives Parrish Jones and Paul Johnston were arrested on wire fraud charges for inflating revenues over a number of years.

In an interview with TechFlash last Friday, acting Entellium CEO Charles Miller declined to comment on speculation that the company would be sold or file for bankruptcy. He did however indicate that news was coming - telling TechFlash to check back later this week. Stay tuned.

Company:: Intuit Canada
Website:: http://www.intuit.com/canada
Location:: Edmonton, Alberta, Canada

Intuit Canada Limited, with offices across Canada, is the leading developer of personal finance, small business accounting and tax preparation software. Headquartered in Edmonton Alberta, the company develops and markets software products that enable individuals, professionals and small businesses to automate their financial lives. Ranked #8 in The Report on Business "50 Best Companies To Work For in Canada" 2003... more

Company:: Entellium
Website:: http://www.entellium.com
Location:: Seattle, Washington, United States

At Entellium, we empower small and medium sized businesses with leading edge online Customer Relationship Management (CRM) solutions based on user designed innovation that fit today—and tomorrow. Easy-to-use, personalized, and designed to increase sales productivity, our web based CRM systems are helping customers all over the world sell more, become more efficient, and reach new heights like never before. more

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Rob Lewis

Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com. His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can... more

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