Singapore: Global SaaS platform Intuit today announced that it has entered an agreement to acquire TradeGecko, the Singapore-based inventory and order management platform that aims to ease omnichannel commerce for small businesses.
The financial details of the deal were not disclosed. The transaction is expected to close in September.
Bloomberg reported that Intuit will pay more than US$80 million for TradeGecko. Citing people familiar with the matter, this deal is “marking one of the biggest exits in Singapore since the COVID-19 pandemic.”
Following the acquisition, TradeGecko co-founders Cameron Priest and Bradley Priest will join the Intuit team and “play an integral role in the product and team integration.”