Intuit Close to Buying Credit Karma

Credit Karma, the popular credit and finance service, is on the verge of being bought by Intuit.

According to reports by The Wall Street Journal, Intuit is planning to purchase Credit Karma for roughly $7 billion in a cash and stock deal. Intuit is already the king of tax preparation and accounting software, and the addition of Credit Karma would help round out the company’s personal finance services.

The deal would allow Credit Karma to operate as a standalone business, with its current CEO continuing to run things. Combining forces would help the two companies better serve their customers, both in the data they have and the personalized recommendations that can be made based on that data, as well as the combination of services each company offers.

If the deal is successful, it would be the largest acquisition in Intuit’s 37-year history.