Intuit has acquired AisleBuyer, the Boston-based software company behind a leading self-checkout app for smartphones. On late Tuesday, the Boston Herald reported that the deal could be worth as much as $100 million.
AisleBuyer offers a suite of mobile shopping apps that aims to bring the most valuable parts of e-commerce to brick-and-mortar retailers.
“AisleBuyer allows you to collect the types of detailed shopper data previously only available to online retailers, so you can deliver targeted product recommendations and offers to smartphone users who are inside your stores or on the go,” its website explains. “The result is an improved experience for your shoppers, while you benefit from higher conversion rates and increased average cart size.”
In a blog post acknowledging that a deal had indeed been completed, CEO Andrew Paradise wrote, “We will continue to work on creating the best small business POS solutions in the world.”
At Intuit’s blog, the company’s GoPayment division was named as a likely beneficiary of this latest acquisition. “AisleBuyer’s technology opens up the mobile point of sale ecosystem to our internal and third-party developers,” Intuit’s Melissa Tahan wrote, “and together we’ll be able to deliver innovative offerings to our small business customers.”
Intuit generated more than $3.8 billion in revenue in its most recent fiscal year, which ended July 31. Since the start of the year, the company’s stock price has appreciated by 11 percent, giving the firm a market capitalization of more than $17 billion.
The Herald also reported that some of AisleBuyer’s 42 employees would be laid off as a result of the deal.