Intuit buying UK-based cloud payroll service PaySuite

Summary:Back in April, the duo announced plans to integrate PaySuite with Intuit's flagship QuickBooks Online software to line up accounts and payroll in a single dashboard.

Intuit continues to rack up acquisitions this year, shifting its focus across the pond with the purchase of PaySuite, a cloud-based, self-service payroll software provider.

PaySuite and Intuit actually already have significant ties. Back in April, the duo announced plans to integrate PaySuite with Intuit's flagship QuickBooks Online software to line up accounts and payroll in a single dashboard.

The merger takings things a step further as PaySuite will be fully baked into the QuickBooks Online ecosystem while also targeting more bookkeepers, accountants and small businesses in the UK.

The Intuit UK team cited in a blog post on Thursday that more than five million small businesses subscribe to Intuit products while QuickBooks Online already serves more than 1.7 million users worldwide.

Intuit made a similar move in geographical expansion with its acquisition of Invitco in May , a cloud-based bookkeeping startup in Sydney, Australia.

PaySuite marks Intuit’s first acquisition this fiscal year, starting August 1.

The Mountain View, Calif.-based company nabbed nearly a dozen smaller financial software businesses in fiscal 2014, including KDK Softwares, Check, Lettuce, CustomerLink, Docstoc, Good April, Full Slate, Level Up Analytics and Prestwick Services.

Financial terms of the PaySuite deal have not been disclosed.

Topics: Cloud, Apps, Enterprise 2.0, Enterprise Software, Software

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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