Login
iscover
Global accounting software provider Intuit has acquired one of its partners, which is also a partner to Xero, in a major coup for its Quickbooks platform.
Intuit picks up Xero partner in $340m acquisition
07 December 2017
•
4 minute read
Intuit’s international headquarters yesterday announced it has signed to acquire TSheets, which is an automated time tracking platform.
TSheets has been a long-standing partner of Intuit, as well as other major software vendors such as Xero.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
The transaction is valued at approximately $340 million of cash and other consideration, and Intuit expects the deal will close in the first half of 2018.
TSheets has about 35,000 clients with approximately 500,000 workers managed through its platform.
“We have a tremendous opportunity to provide millions of small businesses and self-employed a smarter, simplified way to quickly and accurately track their time, send invoices, run payroll, and understand profitability by project,” said Alex Chriss, senior vice president, chief product and platform officer for Intuit’s small business and self-employed group.
“This acquisition will unlock critical upstream data,” he added.
You need to be a member to post comments. Become a member for free today!
