Intuit Inc., of Mountain View, Calif., announced that Bottomline Technologies will acquire the commercial banking business of its Intuit Financial Services unit.
The financial terms of the deal were not disclosed.
The companies will work together through promotions, joint referrals and joint sales, according to a press release.
About 15 of the top 25 global banks use Bottomline's transaction banking products and services for their small-business and corporate customers, the release said. The acquisition will help Bottomline, of Portsmouth, N.H., broaden its suite of services.
The deal is expected to close in the next few weeks, according to the release.