Intuit, the American software company, has agreed to buy Sequence, a British financial technology business, in a deal estimated to be worth around $200m, according to a source close to the deal.
Intuit announced yesterday that it had signed an agreement to acquire Sequence, a business-to-business revenue management and billing platform founded in 2021. Intuit said the financial terms of the deal were not disclosed.
Riya Grover, Sequence’s co-founder and chief executive, holds a stake of more than 45 per cent in the company, according to the company database site Dun & Bradstreet, meaning she stands to make tens of millions of dollars from the sale. The deal is one of the largest exits by a UK artificial intelligence start-up led by a female co-founder.
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