Tuesday, December 5, 2017

Idaho's TSheets Acquired By Intuit For $340M

In a massive, technology acquisition for Idaho, financial software giant Intuit said this morning that it is acquiring Eagle, Idaho-based TSheets, a developer of cloud-based software that lets small and medium businesses, self-employed, and accountants track time and scheduling. The deal is worth $340M. The acquisition is a huge gain for the investors in TSheets, which had only raised $15M in total funding. TSheets was based in Eagle, Idaho. According to Intuit, TSheets' Time Capture software will become a part of Intuit's Small Business and Self-Employed Group. Intuit will make TSheets' location in Idaho a new Intuit location. TSheets was venture backed by Summit Partners, and was founded by Matt Rissell.