Intuit to Buy Mailchimp for $12 Billion in Cash and Stock

Mailchip never took outside investment, which likely makes this one of the largest exits in the technology sector.


Gary Hider/Dreamstime

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Tax and accounting software giant

Intuit

announced a deal to acquire email marketing provider Mailchimp for about $12 billion in cash and stock.

Intuit (ticker: INTU), which owns the TurboTax, QuickBooks, Mint, and Credit Karma financial services brands, said the deal advances its push to provide business services to small- and mid-market companies.

“Together, Mailchimp and QuickBooks will help solve small and mid-market businesses’ biggest barriers to growth, getting and retaining customers,” Intuit CEO Sasan Goodarzi said Monday. “Adding Mailchimp furthers our vision to provide an end-to-end customer growth platform to help our customers grow and run their businesses, putting the power of data in their hands to thrive.”

The deal is expected to close before the end of Intuit’s fiscal 2022 second quarter ending Jan. 31.

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