Intuit Inc INTU.O, developer of tax-preparation software TurboTax, said it had entered into a definitive agreement to buy bill-payment service Check Inc for $360 million in cash and other considerations. The acquisition will help accelerate Intuit’s ability to offer bill payments across small business and personal finance products and create opportunities to retain, attract and serve additional customers, Intuit said in a statement on Tuesday. Once the transaction closes, Check will join Intuit’s Consumer Ecosystem Group and its Israeli site will become an Intuit location. Guy Goldstein, Check’s co-founder and CEO, will serve as vice president, Intuit said.
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