Business software maker Intuit acquired startup Docstoc to help bolster its small business service. The financial terms of the deal were not disclosed, wrote VentureBeat.
Docstoc is a document hosting and sharing service founded in 2007. The company offers a wide range of business documents, how-to articles, videos, and other resources containing small business tips for entrepreneurs, the report stated.
Although Intuit already has sources about tax documents and checks, Docstoc covers a wider array of topics including trademark assignment agreements and real estate forms. Most of Docstoc's content is generated by its 20 million users and sold through the DocStore, the report detailed.
Meanwhile, Intuit has been buying data consulting and payment solution companies at a fast rate. According to a recent filing, the firm has acquired four companies for a total of USD65 million in the last half-year, the report added.
Under the terms of the acquisition deal, Docstoc will continue to operate from its office in Santa Monica. The transaction is expected to close by end of January next year, VentureBeat reported.
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