INTUIT TO ACQUIRE TSHEETS

Details: Written by bobscott

Intuit will pay $340 million to buy TSheets, which markets Time Capture time tracking software. The deal is expected to close by January 31. Time Capture will become part of the product line of Intuit's Small Business and Self-Employed Group.

Already integrated with the QuickBooks line, TSheets reportedly has more than 35,000 customers. TSheets CEO Matt Rissell will manage the product, reporting to Alex Chriss, chief product and platform officer for the group that manages Intuit's accounting software applications. It was interesting to see the TSheets exhibit at this week's Xerocon, the user conference of rival Xero. Xero officials insisted there is no problem—they will continue to work together.

Bob Scott

Bob Scott has been informing and entertaining the mid-market financial software community with his email newsletters for 16 years. And he has been covering this market through print publications for 24 years, first as technology editor of Accounting Today and then as the Editor of Accounting Technology from 1997 through 2009. He has covered the traditional tax and accounting profession during the same time and continues to address that as executive editor of the Progressive Accountant.

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The Editor

Bob Scott has been informing and entertaining the mid-market financial software community with his email newsletters for 10 years. And he has been covering this market through print publications for 18 years, first as technology editor of Accounting Today and then as the Editor of Accounting Technology from 1997 through 2009. He has covered the traditional tax and accounting profession during the same time and continues to address that as executive editor of the Progressive Accountant.