"

Estimated reading time: 1 minute, 6 seconds

Intuit Buying Mailchimp for $12 Billion

Intuit has agreed to buy Mailchimp for about $12 billion in cash and shares. The deal for the email and marketing software company is expected to close by the end of Intuit’s second quarter on January 31.

Intuit says it will raise about $4.5 billion to $5 billion through a debt issuance in addition to utilizing cash on hand.

Intuit will assume $300 million in Mailchimp employee transaction bonuses through restricted stock units with the rest of the acquisition being paid for through Intuit common stock. Intuit will issue another $200 million in restricted stock units to Mailchimp employees after the deal closes

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Read 365 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.