Report: Intuit nearing deal to buy Credit Karma

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JHVEPhoto/iStock(NEW YORK) — Intuit, known for making the tax software TurboTax, may soon be the new owner of Credit Karma.

Citing people familiar with the matter, The Wall Street Journal reports Intuit is nearing a deal to purchase the personal finance company for approximately $7 billion in cash and stock.

So long as discussions don’t fall apart, the sources tell the newspaper the deal could be officially announced as soon as Monday.

Credit Karma was founded 13 years ago. In 2018, the privately held company was valued at about $4 billion.

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