- Intuit (INTU, Financial) to acquire HR platform GoCo, enhancing its Human Capital Management solutions.
- The acquisition aims to integrate HR and benefits management into Intuit's QuickBooks Payroll and Enterprise Suite.
- The deal is expected to close in Q4 FY25, with financial terms undisclosed.
Intuit Inc. (INTU), a global leader in financial technology, has announced an agreement to acquire GoCo, a distinguished provider of HR and benefits solutions tailored for small and mid-market businesses. This strategic acquisition will enable Intuit to offer an all-encompassing Human Capital Management (HCM) solution aimed at streamlining the hiring process, workforce management, and employee lifecycle management for growing businesses.
GoCo's advanced features will soon be integrated into Intuit's Enterprise Suite and QuickBooks Payroll, initially available to U.S. customers who subscribe to Premium or Elite Payroll. This integration is set to advance Intuit’s mission to create a cohesive platform that aids businesses in managing both finances and human resources efficiently.
Olivier Bartholot, Vice President and Segment Leader of Workforce Solutions at Intuit, emphasized that the integration of GoCo’s robust HR and benefits capabilities will significantly boost productivity and growth potential for small and mid-market enterprises. The platform will leverage GoCo's AI-driven tools to offer personalized insights, further enhancing Intuit's existing AI capabilities.
The acquisition marks a decisive step in expanding Intuit’s service offering to mid-market firms, ensuring they have a unified system to optimize team management. The transaction is anticipated to be completed by the fourth quarter of fiscal year 2025, with no financial details disclosed at this time.
GoCo, recognized for its excellence in customer service and innovative HR solutions, is expected to complement Intuit’s product lineup seamlessly, providing businesses with the tools necessary to cultivate happier and more efficient teams.
