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Intuit Buying Mobile Bill Payer

Guy Goldstein, CheckIntuit will spend $360 million to purchase Check, a Palo Alto, Calif.-based company that makes payment application for mobile users. This is the third acquisition Intuit has announced since the beginning of May. It  has acquired Lettuce, an inventory management application, and Invitco, whose software handles accounts payable processing. The Check deal is expected to close by July 31, Intuit said this week.

Intuit said Check has about 10 million registered users and that the acquisition would speed up Intuit's ability to offering bill paying services for its small business and personal finance products. Check's mobile app enables customers to monitor bills and accounts, receive alerts when bills are due or funds are low, and pay bills automatically.

Check's co-founder and CEO Guy Goldstein will serve as a VP and the company will become part of Intuit's Consumer Ecosystem Group. Its site in Israel will become an Intuit location. Goldstein and Check CFO Ahikam Kaufman started their company in 2007.

Lettuce will be incorporated in QuickBooks Online later this year.

The company has not announced specific integration plans for Invitco. Intuit has said it plans to expand capabilities for its products, both by acquisition, and buy opening up the application programming interfaces so developers from other companies can write software that works with Intuit products

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