Intuit, a global technology platform that makes TurboTax, QuickBooks, Mint, and Credit Karma, announced Monday, Sept. 13, it has acquired Mailchimp, a global customer engagement and e-mail marketing platform for about $12 billion.
"Since day one, setting our customers up for success has been our top priority, and we’re confident that our acquisition by Intuit will advance that mission and secure the legacy of support for small businesses that we’ve built over the last 20 years," wrote Ben Chestnut, Mailchimp co-founder and CEO, in an email. "Like Mailchimp, understanding small businesses is embedded in Intuit’s DNA, which affirms my belief that this is the right next step for Mailchimp, our employees, and importantly, our customers."
According to the press release, the transaction is expected to close prior to the end of Intuit’s second quarter fiscal 2022.
"Together, Intuit and Mailchimp will work to deliver on the vision of an innovative, end-to-end customer growth platform for small and mid-market businesses, allowing them to get their business online, market their business, manage customer relationships, benefit from insights and analytics, get paid, access capital, pay employees, optimize cash flow, be organized and stay compliant, with experts at their fingertips," the release says. "Delivering on the promise to be the single source of truth, small and mid-market businesses will have the power to combine their customer data from Mailchimp and QuickBooks’ purchase data to get the actionable insights they need to grow and run their businesses with confidence."
Read the full press release here.
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