May 27 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