TurboTax maker Intuit to buy Mailchimp for about US$12bil

The deal, expected to close by the second quarter of fiscal 2022, is Intuit's biggest-ever acquisition. It will be financed through cash on hand and new debt of about $4.5 billion to $5.0 billion, Intuit said

NEW YORK: Intuit Inc, known for its small-business accounting and DIY tax-filing software, said on Monday it will acquire email marketing company Mailchimp for about US$12 billion in a cash-and-stock deal.

The deal, expected to close by the second quarter of fiscal 2022, is Intuit's biggest-ever acquisition. It will be financed through cash on hand and new debt of about $4.5 billion to $5.0 billion, Intuit said. Last year, the company bought personal finance portal Credit Karma for just over $7 billion.