Intuit's December 2017 acquisition of time tracking service TSheets for $340 million, which was later rebranded as QuickBooks Time. The acquisition demonstrated the strategic value of time tracking in the accounting and payroll ecosystem.
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In December 2017, Intuit acquired TSheets, a time tracking and employee scheduling service, for approximately $340 million in cash and other consideration. The transaction closed on January 11, 2018, and represented one of the largest acquisitions in the time tracking software space.
TSheets was a leading time tracking and scheduling platform that allowed hourly employees to clock in and out with ease via:
At the time of acquisition:
The acquisition positioned Intuit to:
For QuickBooks users:
The $340M price tag demonstrated:
The acquisition:
Followed by:
Assuming TSheets had:
For Intuit:
Strong Integration Potential
Mobile Excellence
Market Position
Technology Stack
Other time tracking companies:
Increased focus on:
The $340 million TSheets acquisition validated time tracking as a strategic, high-value market segment. It demonstrated that well-executed time tracking products with strong integration potential and loyal customer bases can command significant premiums, while also showing the ongoing consolidation trend in business software toward integrated platforms.