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Intuit to acquire AI revenue platform Sequence; shares rise

By Reuters Newsan hour ago Updated

** TurboTax maker Intuit INTU.O shares up nearly 6% at 328.81

** Co says it signed an agreement to acquire Sequence, an AI-native revenue management startup

** Sequence automates quote-to-revenue, including pricing, billing and collections for usage, seat and milestone-based revenue

** Says deal will strengthen Intuit Enterprise Suite and QuickBooks Online Advanced, and opens up B2B software and professional services

** Sequence CEO Riya Grover and team to join Intuit's Mid-Market product organization

** Financial terms of the deal were not disclosed

** 19 of 35 brokerages rate the stock "buy" or above, 14 "hold" and 2 "sell"; median PT $400 - data compiled by LSEG

** Including session's move, stock down 50.3% YTD

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