Intuit Acquires GoCo for Undisclosed Terms, Boosting HCM Offerings

Intuit Inc. has signed an agreement to acquire HR platform GoCo.io for undisclosed terms, expected to close in Q4. The deal aims to offer an all-in-one Human Capital Management solution, streamlining hiring and employee management for mid-sized businesses. GoCo's AI features will enhance Intuit's QuickBooks Payroll and Enterprise Suite. Shares are up 3.67% in pre-market trading.

Intuit Inc. (INTU), a leading financial technology platform, has signed an agreement to acquire HR platform GoCo.io for undisclosed terms, with the expected closing in the fourth quarter of the fiscal year 2025. The acquisition aims to offer an all-in-one Human Capital Management (HCM) solution, streamlining hiring and employee management for mid-sized businesses.

GoCo.io, founded in 2015, provides HR and benefits tools specifically designed for small and mid-sized businesses. Its AI features will enhance Intuit's existing offerings, including QuickBooks Payroll and Enterprise Suite. The integration of GoCo.io's capabilities will enable Intuit to deliver a more comprehensive HCM solution, helping businesses manage their teams more efficiently.

The acquisition is part of Intuit's broader strategy to support mid-sized businesses through a unified platform. This move is expected to complement Intuit's robust data set and AI capabilities, providing done-for-you experiences and personalized HR insights [1].

Shares of Intuit are up 3.67% in pre-market trading, indicating investor confidence in the strategic move. The acquisition is expected to close in the fourth quarter, with financial terms remaining undisclosed.

References:
[1] https://www.stocktitan.net/news/INTU/intuit-to-acquire-hr-platform-go-dl7sy6en2mu2.html
[2] https://www.nasdaq.com/articles/intuit-acquire-goco-undisclosed-terms-stock-pre-market

View Source