Intuit to Buy Mailchimp for $12 Billion in Cash and Stock

Tax and accounting software giant Intuit announced a deal to acquire email marketing provider Mailchimp for about $12 billion in cash and stock.

Intuit (ticker: INTU), which owns the TurboTax, QuickBooks, Mint, and Credit Karma financial services brands, said the deal advances its push to provide business services to small- and mid-market companies.