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Intuit Inc. is nearing a deal to buy personal-finance portal Credit Karma Inc. for about $7 billion in cash and stock, in a move that would push the bookkeeping-software giant further into consumer finance, according to people familiar with the matter.
The maker of TurboTax could announce a deal to buy privately held Credit Karma by Monday, assuming talks don’t fall apart, the people said. Credit Karma was valued at roughly $4 billion in a private share sale about two years ago.
The deal would mark Intuit’s INTU, -1.22% largest acquisition by far in its 37-year history and the first sizable transaction under Chief Executive Sasan Goodarzi, who took over a little more than a year ago.
Credit Karma offers its customers free access to their credit scores and borrowing history, alerts to possible data breaches, credit monitoring and tax preparation and filing. Customers in turn receive offers from other companies for credit cards and loans tailored to their credit history, and Credit Karma makes money when customers use those products.
An expanded version of this report appears on WSJ.com.
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