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.