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Intuit Buys M-Payments Co. AisleBuyer

Intuit (INTU) has purchased the mobile commerce provider AisleBuyer.

The deal closed Monday, according to Sharna Brockett, a representative for Intuit. Brockett did not say whether the acquisition figure of $80 million to $100 million, which was reported in other media, is accurate.

AisleBuyer CEO Andrew Paradise did not respond to requests for comment.

Many analysts have considered AisleBuyer a legitimate mobile payments player since it launched two years ago.

An acquisition of AisleBuyer makes sense for Intuit because it strengthens Intuit's software offerings and core competencies, says Richard Oglesby, senior analyst and mobile pay expert with Aite Group.

"Moving forward, the industry will become a more mobile-oriented payment area, and this purchase puts Intuit in a really good position," Oglesby says.

Read the full story on PaymentsSource.

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