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The 12 Billion Dollar Monkey

#BreakingNews: Intuit will buy email marketing company Mailchimp for $12 billion in cash and stock, both companies confirmed today. Intuit is best known for financial service offerings like Turbo Tax and Credit Karma.

The company said it will use the acquisition to accelerate growth among small business clients. It marks Intuit‘s largest acquisition to date. Last year, they purchased Credit Karma for more than $8 billion.

MailChimp was initially founded in Atlanta in 2001.

We’re HustleTweeting about this #BreakingNews, and you’re more than welcome to join the conversation on the Hustle Twitter HERE … on our ridiculously sensational Instagram HERE … or on our Facebook page HERE!