Intuit picks up PayCycle for $170 million

Intuit picks up PayCycle for $170 million

Summary: Intuit said Tuesday that it has acquired PayCycle, a privately held online payroll service for small businesses, for roughly $170 million. PayCycle has more than 85,000 small business customers.

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Intuit said Tuesday that it has acquired PayCycle, a privately held online payroll service for small businesses, for roughly $170 million. 

PayCycle has more than 85,000 small business customers. 

In a statement, Intuit said PayCycle will allow it to offer online payroll services quickly and enter the software as a service market for small businesses. Meanwhile, PayCycle's partnerships with financial institutions will help Intuit's payroll business overall.

The deal, which will shave about 2 cents a share in earnings from Intuit's fourth quarter results, is expected to close in the third quarter. 

Also seeE-file flap dings Intuit tax revenue outlook

Topics: SMBs, Banking, Enterprise Software

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  • Attendnace & Payroll Management

    Attendance and Payroll Management

    http://www.lenvica.in
    srinidhi_lenvica
  • RE: Intuit picks up PayCycle for $170 million

    It's interesting to watch intuit grow into the business
    services market through acquisition.

    Homestead, mint, payroll ... you can see they're focusing
    on the full life cycle of the business owner, not just
    the accounting anymore.
    webstrategy