Financial services company Intuit has made a deal to purchase free credit monitoring service Credit Karma for $7.1 Billion. Business Insider is reporting that the deal is a cash + stock deal and the largest in Intuit’s history.
Intuit’s purchase of Credit Karma would also mark the first purchase under Sasan Goodarzi, Intuit’s CEO for the last year.
Rumors of the sale began on Saturday and Intuit saw stock prices rise by $7.
“By joining forces with Credit Karma, we can create a personalized financial assistant that will help consumers find the right financial products, put more money in their pockets and provide insights and advice,” Goodarzi said in a press release announcing the deal.
Intuit is the owner of bookkeeping service Quickbooks and tax filing service TurboTax, among others.