The acquisition is centred on offering a one-stop solution hub for small businesses.
Financial software company Intuit will be acquiring marketing automation platform Mailchimp for $12 billion. Mailchimp’s email marketing service helps businesses manage mailing lists and create email marketing campaigns.
Intuit sees this acquisition as a step towards its long-term strategy of becoming a centre of business growth for small and medium-sized ventures. The California-headquartered company aims at helping small organisations get their business online, manage customer relationships, optimise cash flow, benefit from expert advice and gain access to analytics.
According to Ben Chestnut, CEO and co-founder, Mailchimp, the company looks to leverage Intuit’s AI-driven platform to offer better solutions to small businesses. Mailchimp has around 13 million global users, 50% of which reside outside the US.
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