New York -- Intuit has entered into a definitive agreement to purchase Check, a mobile bill pay company with some 10 million registered users. The acquisition will help accelerate Intuit’s ability to offer bill pay across small business and personal finance products and create opportunities to retain, attract and serve additional customers.
Check’s mobile app automates and consolidates the bill pay process all in one place. Check customers can monitor bills and accounts, receive alerts when bills are due or funds are low and pay bills automatically.
Once the transaction closes, Check will join Intuit’s Consumer Ecosystem Group. The Israel site will become an Intuit location, adding to the company’s growing global portfolio.
The transaction, valued at approximately $360 million for total cash and other consideration, is expected to close in the fourth fiscal quarter of 2014.