Idaho's TSheets Acquired By Intuit, Maker Of QuickBooks
TSheets, the digital timesheet company based in Eagle, sold itself to Intuit, the maker of QuickBooks. It’s a merger that makes sense given the two companies long relationship.
TSheets and QuickBooks software have been bundled together for over five years, so ties between the Idaho company and the Silicon Valley powerhouse run deep.
“We have a relationship at pretty much every level in the organization because we’ve worked on so many projects together,” says Matt Rissell, TSheets CEO.
He says while the company wasn’t up for sale, Intuit started a conversation about the deal in the summer. With the acquisition complete, Rissell says workers can rest easy and prepare for expansion.
“Every single one of our employees, 100 percent of them, their jobs are just as secure today as they were yesterday,” he says. “And, in fact, the plan here is to grow over a hundred employees – add over a hundred employees in the next year alone.”
TSheets’ CEO says the company had 15,000 accounting partners before the deal. Now, with the network Intuit brings, they have 600,000 partners. Rissell likes the hurdles a massive leap like that presents.
“All of the growth and the acceleration of our vision will be a challenge, but I wouldn’t have it any other way,” says Rissell
The company will stay headquartered in Eagle, and Rissell will lead a team for Intuit’s small business group specializing in time, tracking and scheduling.
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