TurboTax maker Intuit in $10bn takeover talks with email firm Mailchimp
Acquisition would be Intuit’s largest deal yet
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Intuit, the company behind bothTurboTaxandQuickBooks, is reportedly in talks to acquire theemail marketingfirm Mailchimp for $10bn.
AsreportedbyBloomberg, talks between the two companies are ongoing according to people familiar with the matter. If Intuit does end up acquiringMailchimp, it would be the company’s largest deal ever.
While no final decision has apparently been made yet, discussions could still fall through. The anonymous sources familiar with the potential deal who spoke withBloombergalso said that another buyer could emerge as several parties are interested in Mailchimp.
Intuitalso recently released its Q4 financial results as well as its results for the full year, revealing in apress releasethat the company brought in $9.6bn in total revenue for the year as well as $2.6bn during the fourth quarter. Intuit attributes some of it success last quarter to the addition ofCredit Karmato its portfolio.
Expanding its small business offerings
If the deal between Intuit and Mailchimp does come to be, it would unite two makers ofsmall business softwarewhile giving Intuit a presence in the growing email marketing space.
While Intuit has provided its QuickBooksaccounting softwareto businesses for decades, the company supplemented this offering with its $7.1bn acquisition of Credit Karma last year. Mailchimp meanwhile delivers digital marketing services to small businesses including social advertising,shoppable linksand automation products.
Back in August,Bloombergreportedthat Mailchimp was considering a sale though the company is also open to offering a minority stake according to those familiar with the matter. While Intuit has set its eyes on Mailchimp, so too haveprivate equity firmsand other large tech companies.
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We’ll have to wait and see as to whether or not Intuit does end up acquiring Mailchimp or if the email marketing firm decides to court another buyer instead.
ViaBloomberg
After working with the TechRadar Pro team for the last several years, Anthony is now the security and networking editor at Tom’s Guide where he covers everything from data breaches and ransomware gangs to the best way to cover your whole home or business with Wi-Fi. When not writing, you can find him tinkering with PCs and game consoles, managing cables and upgrading his smart home.
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