Intuit Inc, developer of tax-preparation software TurboTax, said it had entered into a definitive agreement to purchase 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.The deal is expected to close in the fourth quarter of fiscal 2014.Check, founded in 2007, is headquartered in Palo Alto, California and has its development center in Israel.
Intuit Inc. (Intuit) is a provider of business and financial management solutions for small businesses, consumers, accounting professionals and financial institutions. Shares of INTU traded higher by 0.69% or $0.55/share to $80.14. In the past year, the shares have traded as low as $56.74 and as high as $82.40. On average, 1754360 shares of INTU exchange hands on a given day and today's volume is recorded at 1336782.
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