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.
INTUIT TO ACQUIRE TSHEETS Featured
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.
