Intuit Inc. has agreed to acquire TSheets, a platform used to automate time tracking and scheduling for small-to-midsized businesses, the self-employed and accountants and their workers.
The deal is valued at about $340 million in cash and other consideration. It is expected to close in the second quarter of fiscal 2018.
The transaction has no material impact on Intuit's earnings guidance for the second fiscal quarter, or full fiscal year 2018.
TSheets is already integrated with Intuit's small-business offering. After the deal closes, Time Capture will be a new offering within Intuit's small-business and self-employed group led by TSheets CEO Matt Rissell. TSheets' site in Eagle, Idaho, will become an Intuit location.
