Intuit to acquire email marketer Mailchimp for US$12bil

Software firm Intuit, which does tax and accounting solutions, has bought over email marketing firm Mailchimp to better cater to SMEs. — Bloomberg

Intuit Inc., the maker of TurboTax and QuickBooks software, agreed to buy privately held email marketing firm Mailchimp for US$12 bil (RM49.79bil) in cash and stock, uniting two providers of services for small businesses.

The deal, announced in a statement Monday that confirmed an earlier Bloomberg News report, will bolster Intuit’s offerings for businesses looking for ways to reach and serve customers online. Intuit has offered QuickBooks accounting software to clients for decades, supplementing it with services such as Credit Karma, which it acquired last year.