Once the transaction closes, Time Capture will become a new offering within Intuit's Small Business and Self-Employed Group with Matt Rissell assuming the leader role reporting to Alex Chriss. TSheets's Eagle, Idaho site will become an Intuit location.Terms The transaction is valued at approximately $340 million of cash and other consideration, and is expected to close in the second quarter of fiscal 2018, subject to the expiration of applicable regulatory waiting periods and the satisfaction of other customary closing conditions. The transaction has no material impact on Intuit's earnings guidance for second quarter and full fiscal year 2018. About Intuit Intuit Inc. is committed to powering prosperity around the world for consumers, small businesses and the self-employed through its ecosystem of innovative financial management solutions. Its flagship products and services include QuickBooks® and TurboTax®, which make it easier to manage small businesses and tax preparation and filing. QuickBooks Self-Employed provides freelancers and independent contractors with an easy and affordable way to manage their finances and save money at tax time, while Mint delivers financial tools and insights to help people make smart choices about their money. Intuit's ProConnect brand portfolio includes ProConnect Tax Online, ProSeries® and Lacerte®, the company's leading tax preparation offerings for professional accountants. Founded in 1983, Intuit serves 46 million customers in North America, Europe, Australia, Brazil and India, with revenue of $5.2 billion in its fiscal year 2017. The company has approximately 8,200 employees with major offices in the United States, Canada, the United Kingdom, India, Israel, Australia and other locations. More information can be found at www.intuit.com. About TSheets TSheets was founded in 2006 after CEO Matt Rissell discovered a gap in the employee time tracking and reporting market. Today, the company has grown to over 500,000 users in over 100 countries, opened a satellite office in Australia and raised $15 million in Series A growth equity funding. The company was included in the 2016 Deloitte Fast500 list, Entrepreneur's Top Company Culture Award, Idaho Innovative Company of the Year, and is the three time recipient of #1 Best Place to Work in Idaho. With TSheets, the days of punching a traditional time card are over. TSheets is a leading time tracking and scheduling platform that allows hourly employees to clock in and out with ease—via computer, tablet, iPhone or Android app, or even a phone call, text, or tweet. For employers and managers, TSheets ensures accountability and accuracy with GPS, overtime alerts, and a seamless integration with QuickBooks Online and other top third party applications. With over 8,000 5-star reviews online, TSheets is the top rated and requested time tracking solution for accounting professionals, small businesses and the self employed.