The global financial technology software company – Intuit announced on Monday that it is planning to acquire the digital marketing company - Mailchimp for about $12 billion in a cash-and-stock deal.
Last year, the company bought the personal finance company, Credit Karma for $8.1 billion. The deal was among the 10 biggest U.S tech deals over the period.
“There is incredible power in combining the customer data and the purchase data, and we wanted to put the power of the data in our customer’s hands,” said Sasan Goodarzi, chief executive at Intuit.
The deal comes in times where fintech companies like Intuit are recovering from the pandemic. Both deals are financed with a cash and stock, in the case of Mailchimp, some new debt.
The deal is expected to close within six months, adding about 1,200 employees across 20 offices in nine locations worldwide.
