American software company Intuit Inc. (Nasdaq:INTU) has entered into an agreement to acquire venture-backed Check, a Palo Alto, Calif.-based mobile bill pay provider that serves 10 million registered users.
The acquisition, valued at approximately $360m, will allow Intuit to offer bill pay across small business and personal finance products, adding to its personal finance solutions, Quicken and Mint.
Check provides a mobile app that automates and consolidates the bill pay process. Customers can monitor bills and accounts, receive alerts when bills are due or funds are low, and pay bills automatically.
Following the transaction close, expected in the fourth fiscal quarter of 2014, Check will join Intuit’s Consumer Ecosystem Group. The Israel site will become an Intuit location, adding to its global portfolio. Guy Goldstein, Check’s co-founder and CEO, will serve as vice president and report to Saik.
04/09/2013: Check Raises $24M in Series C Funding