Seeking Alpha

Intuit continues M&A spree, buys workers comp. tech provider

  • Intuit (INTU +0.1%) is acquiring Prestwick Services, provider of a workers compensation platform for small businesses that, according to Intuit, provides more accurate insurance premium calculations and eliminates large up-front prepayments.
  • Whereas traditional workers comp. solutions rely on prepayments based on estimates, Prestwick's Trupay offering calculates payments in real-team, and adjusts them as employee changes take place.
  • Intuit plans to offer Prestick's solution to its 1M Payroll service customers. The company will be added to Intuit's Employee Management Solutions unit.
  • Recent Intuit acquisitions: GoodApril, Level Up Analytics, Payvment
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