Tuesday, June 2, 2009

Intuit Buys PayCycle For $170M

Mountain View-based Intuit announced late Tuesday that it is in a definitive agreement to acquire Palo Alto-based PayCycle, a provider of online payroll services. According to Intuit, the deal is worth approximately $170M. PayCycle is venture backed by August Capital, CCP Equity Partners, DCM, Irwin Ventures, and Total Technology Ventures.