Intuits signed an agreement to acquire key technology and welcome talented members of the Wonder team, a fintech company focused on mobiles. This directly supports the connected commercial platform strategy to help customers manage and develop their business in one place.
This agreement is aligned with our strategy to invest more and extend our money offers to support our objective of meeting the critical challenges that companies face: management of cash flows and obtaining financial visibility in real time. These challenges are important, with more than 80% of commercial failures linked to cash problems.
“With the technology of wonders, we invest more in our efforts to revolutionize the management of money. I could not be more excited to work with the talented members of the team of wonders while we food the growth of companies and allow them to prosper, “said James Barrese, vice-president of Fintech director at Intuit.
“I am proud of our technological platform on mobile, we built in Avice and the team that brought us to this critical stage. I could not be more excited to bring our technology back to Intuit, a world leader in financial solutions, where we will have a significant impact on consumers and businesses, “said Kalpest Kapadia, co-founder and CEO of wonders.
At the end of this agreement, the members of the selected team will join Intuits. Palo Alto -based employees will join the Mountain View team and the members of the Pune team will continue to work in Pune, India. The agreement should be concluded in the third quarter of fiscal year 25. The conditions of the transaction have not been disclosed.