This afternoon Intuit confirmed persistent rumors that it was in the process of buying Mailchimp, detailing a $12 billion transaction that will bring the well-known email infra company to its corporate remit.
Intuit is not a well-known player in the email marketing space. The company is instead best known for its TurboTax software (and associated lobbying of the U.S. government to ensure its rent-seeking can continue), its recent purchase of Credit Karma and its more dated acquisition of Mint.
The Mailchimp transaction will comprised both cash and stock.
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