Posted September 15, 2021
Intuit, the parent company of TurboTax and QuickBooks, will acquire Mailchimp, a company best known as a provider of email marketing services, the companies announced on Monday.
The cash-and-stock deal, which is subject to regulatory approvals, will value Mailchimp at about $12 billion.
The deal is Intuit’s largest to date and is a notable expansion into customer-relationship management for a company largely known for its finance software. Intuit hopes to combine Mailchimp’s digital marketing services with QuickBooks, its accounting program, to help small businesses manage their customers as well as their books.
“The real magic is actually in the power of the data,” Intuit’s chief executive, Sasan Goodarzi, said in an interview. “When we bring the platforms together, I’ll actually not only know who I marketed it to, but what you bought when you bought it.”
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