BUZZ-Intuit to acquire AI revenue platform Sequence; stock price rises

October 15 - ** TurboTax developer Intuit (INTU.O) shares rose nearly 6%, to 328.81

** The company announced it has signed an agreement to acquire Sequence, an AI-native revenue management startup

** Sequence enables automation from quoting to revenue, including revenue pricing, invoicing, and collection based on usage, user seats, and milestones

** The acquisition is said to strengthen Intuit Enterprise Suite and QuickBooks Online Advanced, as well as expand into B2B software and professional services

** Sequence CEO Riya Grover and her team will join Intuit’s mid-market products division

** Specific financial terms of the deal were not disclosed

** Of 35 brokers, 19 have a “buy” or higher rating on the stock, 14 are “hold”, and 2 are “sell”; median price target is $400 — data compiled by LSEG

** Including the day’s performance, the stock has fallen 50.3% so far this year

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