Intuit acquires tax filing startup KDK Softwares

NEW DELHI: Business software maker Intuit Inc said it would buy Jaipur-based professional tax filing software provider KDK Softwares India Private Limited for an undisclosed amount, in order to strengthen its accountant customer base.

The acquisition is the first in India by the Mountain View, California-based Intuit. “With this acquisition, we will in the near term be able to provide our customers with an end-to-end workflow of integrated accounting and tax capability,” said Nikhil Arora, vice president and managing directort, Intuit India.

The deal is expected to close on August 1.

KDK Softwares provides professional tax computation and e-filing capabilities, and will be integrated with Intuit’s “QuickBook” software for medium and small businesses within the next 12 months, Arora said.

The US based company has made a series of acquisitions in the past year, to add to its portfolio of tools for small businesses and individuals, and did not rule out further acquisitions in India going forward.

Intuit in May agreed to buy Check Inc, a bill-payment service, for $360 million, to offer bill payments acrosssmall business and personal finance products and create opportunities to retain, attract and serve additional customers.