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The firm now serves thousands of small businesses globally, processing more than US$5 billion in gross merchandise value, chief executive officer Cameron Priest said in a separate post.INTUIT Inc has agreed to acquire TradeGecko, a Singapore-based inventory and order management software platform for small retailers and wholesalers in more than 100 countries.
Intuit will pay more than US$80 million for TradeGecko, according to people familiar with the matter, marking one of the biggest exits in Singapore since the Covid-19 pandemic. The Mountain View, California-based company will integrate TradeGecko's system into its QuickBooks accounting suite to help sellers manage orders and inventory, according to a blog post. The transaction is expected to close in September.
"Small businesses around the world are struggling to survive in the rapidly changing environment," said Alex Chriss, executive vice-president of QuickBooks, which counts seven million small firms as its customers for processing payroll, managing capital and receiving payments.
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