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Intuit’s SaaS Roll-Up Begins With PayCycle

Posted on Tuesday, Jun 2nd 2009

I have been calling for Intuit to start rolling up a SaaS portfolio for a while. [Read: ADP and Intuit Should Acquire Some SaaS, Intuit Needs To Acquire Into SaaS and SaaS Acquisitions Recommended For ADP and Intuit].

Well, Intuit just acquired PayCycle for $170 million, which was right at the top of my recommendation list. René Lacerte, CEO of Bill.com, is the founder, whose story I covered in 2007. The CEO is an old friend, Jim Heeger, whose story you’ve also read here. CFO John Eichhorn just called me to share the news.

Congratulations Jim, John and René. You deserve every bit of this win!

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Thank you Sramana! Thanks for all your support. It is very exciting. Best to you!

Rene Lacerte Tuesday, June 2, 2009 at 3:56 PM PT

It’s going to get even more Sassy – read cloudave in the next couple of days…..

Ben Kepes Tuesday, June 2, 2009 at 4:11 PM PT

[…] and competition.  Several folks have smartly pointed out that this could be an indicator of more acquisitions to come in the small business SAAS (software as a service) space.  In fact, there was another tidbit of […]

Why Intuit’s purchase of Paycycle is good for small business | Outright Blog Wednesday, June 3, 2009 at 2:52 PM PT