MOUNTAIN VIEW (dpa-AFX) - Intuit Inc. (INTU) announced on Thursday that it has agreed to acquire Sequence, a Series A company that provides an AI-based platform to automate revenue management. Financial terms of the deal were not disclosed.
On the Nasdaq, shares of Intuit are currently gaining 5.33 percent, changing hands at $326.99.
The deal will add billing and pricing capabilities to Intuit's mid-market offerings, including Enterprise Suite and QuickBooks Online Advanced.
Sequence's platform replaces spreadsheets and manual workflows, allowing businesses to manage revenue tied to consumption, usage, seats and milestones. Intuit said the acquisition will broaden its reach into industries such as B2B software and professional services.
Intuit said it will continue supporting Sequence's existing customers and integrate its technology into future products.
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