QuickBooks owner Intuit in early talks for $10bn Mailchimp buyout
Software developer Intuit, the firm behind TurboTax and QuickBooks, has reportedly entered talks with Mailchimp for a $10bn buyout.
The deal’s discussions are still in their early stages, Bloomberg first reported, citing people familiar with the matter.
There is room for the potential deal to fall through, or alternatively, a rival bidder may emerge for email marketing company Mailchimp.
If talks are successful, the acquisition would be Intuit’s largest to date.
City PM has contacted Mailchimp and Intuit for comment.
The reports follow a set of upbeat financials from the software developer, which posted $2.6bn in revenue in its fourth quarter – up 41 per cent from the $1.8bn it pulled in last year.
“We had a very strong fourth quarter capping off an outstanding fiscal 2021,” CEO Sasan Goodarzi said in a statement last week.
“Our momentum continues across the company with accelerated innovation focused on our customers’ most important needs while creating durable growth opportunities for Intuit in the future.”