Intuit has quietly made another acquisition today to expand its accounting and back office management business, this time focusing on payroll. Acrede, a Jersey, UK-based provider of global, cross-border and cloud-based payroll services, is joining Inuit; and its CEO and founder, Karen Paterson, is being named Intuit’s director of payroll platform.
Financial terms and other details of the deal have not been disclosed in Acrede’s announcement of the deal — which was delivered in the form of a magazine feature written by the CEO.
Intuit tells us that it is not disclosing the price but has confirmed the acquisition and that all of Acrede’s 80 employees are joining the company. “Acrede’s cloud-based global platform processes payroll for employees in 30 countries with scalable technology and a talented team with deep global tax and compliance expertise,” Karen Peacock, GM of employee management solutions in Intuit’s Small Business Group, said in a written statement. “We’re excited…
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