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TurboTax maker Intuit buying Credit Karma in $7.1B deal

Intuit-Credit Karma
Posted at 4:09 AM, Feb 25, 2020
and last updated 2020-02-25 06:07:04-05

(AP) — Intuit says it is buying consumer finance company Credit Karma in a $7.1 billion cash and stock deal.

Intuit is best known for its personal finance tools such as TurboTax and Mint, while Credit Karma promotes products that help consumers find the right loan or credit card.

Intuit says it will pay for the deal in equal portions of cash and its own stock.

The companies say they expect the deal to close in the second half of 2020, pending regulatory approval.