Intuit to buy bill-payment service Check Inc for $360 mln - WSJ

Tue May 27, 2014 12:10am EDT

May 27 (Reuters) - Intuit Inc, developer of tax-preparation software TurboTax, agreed to buy Check Inc, a bill-payment service, for $360 million in a deal that was signed on Friday, the Wall Street Journal reported, citing people familiar with the situation.

This is the latest in a slew of acquisitions made by Intuit since last year as it expands its suite of tools for individuals and small businesses, the report said. (r.reuters.com/haf69v)

The Mountain View, California-based company had agreed to buy Prestwick Services, a workers' compensation payment solutions provider, in November last year.

Check's smartphone app is used by more than 10 million people to track and pay their bills, according to the company. The Check app monitors bank accounts and credit cards and sends reminders to people when bills are due or funds are low.

Intuit was not immediately available for comment outside regular U.S. business hours. A Check representative said she will comment later. (Reporting by Arnab Sen in Bangalore; Editing by Gopakumar Warrier)

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