Intuit said on Monday it would buy privately held personal finance portal Credit...
) said on Monday it would buy privately held personal finance portal Credit Karma in a cash-and-stock deal for about $7.1 billion, as the TurboTax maker seeks to expand further into consumer finance.The deal hands Intuit access to Credit Karma’s trove of financial data on millions of Americans.
“Together with Credit Karma, the customers will have access to all their information in one place, and then we’ll be able to match them with financial products that are right for them,” Chief Executive Officer Sasan Goodarzi said. Credit Karma was valued at about $4 billion based on a funding round in 2018, led by private equity firm Silver Lake.
The transaction would be neutral to accretive to Intuit’s adjusted earnings per share in the first year after the deal closes, which is expected in the second half of 2020.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TurboTax maker Intuit nears agreement to buy Credit Karma for $7 billion: WSJIntuit Inc is nearing an agreement to buy financial technology portal Credit Kar...
Read more »
TurboTax maker Intuit near deal to buy Credit Karma for $7 billion, WSJ reportsThe deal, which will be in cash and stock, would push Intuit further into the growing online consumer finance sector. The company is expected to announce the agreement on Monday, according to The Wall Street Journal.
Read more »
WSJ News Exclusive | Intuit Near Deal to Buy Credit Karma for $7 BillionIntuit is near a deal to buy personal-finance portal Credit Karma for about $7 billion in cash and stock, pushing the company behind QuickBooks and TurboTax further into consumer finance, people familiar with the matter said.
Read more »
Why Intuit is buying Credit Karma for $7 billion - Business InsiderIntuit is nearing a $7 billion deal to acquire Credit Karma — here's what the TurboTax owner has to gain from the buzzy startup known for its free credit scores
Read more »
Why Credit Karma Shouldn’t Sell To IntuitCredit Karma shouldn’t sell itself to Intuit. Intuit has a poor track record of integrating retail finance acquisitions. Maybe Amazon is the better fit.
Read more »
Fintech company Intuit to buy Credit Karma for $7.1 billionInuit has agreed to acquire Credit Karma for approximately $7.1 billion in cash and stocks, the companies announced. The acquisition of Credit Karma pushes Intuit further into the world of consumer finance technology.
Read more »