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Deal of the Year - Intuit Inc Acquires KDK Softwares Private Limited

Conclave 2013. This next–generation QuickBooks, available in more than 100 countries, provides small businesses and accountants with an intuitive, easy-to-use design and access to a robust, open and scalable platform that works anytime, anywhere.” As a service that is leading the way in terms of delivering cloud business and financial management software, Arora explained why they are different from their competitors. “We rebuilt QuickBooks from the ground up to deliver a simple, yet powerful platform that goes beyond accounting and offers small businesses an unprecedented business management solution. QuickBooks is built to take advantage of the cloud, which means that small businesses can access their key business information anytime, anywhere on the go, and it’s positioned to connect with other services that small businesses rely on around the globe. Our slogan is that QuickBooks allows small businesses to organize all their business finances in one place – enabling them to take quick and informed decisions: anytime, anywhere. For accountants - QuickBooks allows accountants to grow their practice by enabling better collaboration with their clients.”

“In terms of QuickBooks’ availability in India, it is unlike any other solution currently available for small businesses and accountants. No other company has the simplicity of its design, its open and integrated platform, as well as it being tailored to your life and that you can access it anywhere, anytime, and through any device. It is a web based, easy-to-use, and exclusively designed to help small businesses spend less time bookkeeping and more time growing their business.” As market leaders in various different countries, it is their acquisition of KDK Softwares that sets the stage for them to become the ecosystem behind small business success in India. KDK Softwares Private Limited are a market leader in providing professional tax solutions, and is a fast-growing company committed to providing reliable and costeffective software solutions to Tax Professionals and small businesses throughout India. KDK Softwares, now a part of Intuit India, has a customer base of over 20,000 accountants, which now means Intuit represents 1 in 5 registered practicing chartered accountants in India.

“We are excited to have gained the KDK Software management and team, whose experience and strong domain knowledge will enhance our capabilities,” says Arora. “Through this acquisition we are expanding our ecosystem of offerings by providing a simplified tax filing process for accountants, bookkeepers and their small business clients. We have witnessed that fifty percent of accountants’ time is spent doing taxes, with this acquisition and its integration with the popular QuickBooks, Intuit will be able to offer an end-to-end solution for accounting, tax computation and e-filing, thus saving valuable time. “The addition of KDK Softwares builds on Intuit QuickBooks’ small business ecosystem offering in India, providing a seamless and collaborative tax filing solution for bookkeepers, accountants and their small business clients. Furthermore, KDK Softwares brings the benefits of working with a partner with software skills, networking expertise, project management experience and domain knowledge in every aspect of statutory compliance.

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Acquisition International - The Voice of Corporate Finance