12:26 PM EDT, 06/13/2024 (MT Newswires) -- Intuit (INTU) said Thursday it was acquiring certain technology from Zendrive to drive the adoption of its usage-based auto insurance product Karma Drive.

As part of the transaction, Zendrive Chief Executive Dennis Ellis and co-founder and Chief Technology Officer Pankaj Risbood will join Intuit's Credit Karma team, Intuit said in a statement.

The company did not disclose the financial terms of the transaction which is expected to close in Q4.

Price: 592.47, Change: +0.25, Percent Change: +0.04