Intuit has signed a definitive agreement to acquire privately held Prestwick Services, a subsidiary of Prestwick Holdings, a Sudbury, Mass.,- based company in payroll-based billing and payment solutions for the workers’ compensation industry. Prestwick Services will become part of Intuit’s Employee Management Solutions division.
The transaction is expected to close during the second quarter of Intuit’s fiscal year 2014, which ends Jan. 31, and is subject to customary closing conditions.
Update: 12-04-13