Intuit Eyes Mailchimp Acquisition For Over $10B: Bloomberg
- Intuit Inc (NASDAQ: INTU) is in talks to acquire email marketing firm, Mailchimp, for over $10 billion, Bloomberg reports.
- The deal would unite two providers of services for small businesses.
- Intuit offers QuickBooks accounting software, supplementing it with Credit Karma after acquiring it for $7.1 billion in 2020. Mailchimp focuses on digital marketing services, including social advertising, so-called shoppable links, and automation products.
- Mailchimp reported $300 million in EBITDA for 2020.
- Intuit aims to build on a small-business recovery that’s helped drive sales of QuickBooks and other products. It reported a 41% year-on-year revenue growth in Q4.
- Intuit held $3.9 billion in cash and equivalents as of July 31.
- Price Action: INTU shares closed higher by 0.095% at $566.11 on Tuesday.
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