INTU: Intuit to Buy Bill-Payment App Check

Check had raised $47 million in VC financing

   

INTU: Intuit to Buy Bill-Payment App Check

On Tuesday, software developer Intuit (INTU) announced that it would acquire Check Inc. INTU shares gained almost 1% on the news.

intuit185 INTU: Intuit to Buy Bill Payment App CheckINTU said it would pay $360 million to purchase Check, a bill-payment service. Check’s smartphone app has a reported 10 million users and generates revenue through advertising. Check brought in $20 million in revenue last year and had raised $47 million in financing from venture capital firms, the Wall Street Journal noted.

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INTU, which already owns Quicken and TurboTax, has made a number of technology startup acquisitions. INTU recently purchased Lettuce, which produces inventory monitoring and tracking software.

Shares of INTU stock closed at $79.59 on Friday.

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