Intuit (INTU) in Talks to Acquire Mailchimp for Over $10 Billion - Bloomberg

September 1, 2021 6:59 AM EDT

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Bloomberg reports that Intuit (NASDAQ: INTU) is in talks to acquire email marketing company Mailchimp for over $10 billion.

The report adds that there is still uncertainty whether the deal will be finalized as there are other suitors interested as well.

INTU is seeking to further enhance its product offering by adding Mailchimp to its QuickBooks accounting software and Credit Karma, which it acquired for $7.1 billion last year. Mailchimp generated around $300 million EBITDA last year.

This news doesn’t come as a surprise given that Bloomberg already reported Mailchimp was exploring a sale. As a result, the private company attracted interest from both private equity firms and large tech companies.

Shares of INTU are up 52% YTD after closing at $566.11 yesterday. The company has guided for a full-year EPS of $11.25.



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