Small-business accounting and DIY tax-filing software maker Intuit Inc: has announced it will acquire digital marketing company Mailchimp for roughly $12 billion in a cash-and-stock. The deal is expected to close in Q2 2022 and add to Intuit's adjusted earnings for full-year fiscal 2022. Company sources suggest Mailchimp's marketing platform for small- and mid-market businesses will help Intuit add insight to its Quickbooks platform.
However, word on the street is that employees at Mailchimp are displeased because management refused to offer employees stock and assured them it would never sell shares. Then it announces it sold all of them for billions.