Intuit has confirmed rumors that it was in the process of buying MailChimp, saying that a $12B deal is in place to acquire the email giant. The deal will comprise both cash and stock and will help Intuit enter the email marketing sector. The company has said the deal will help “advance” Intuit’s “powering prosperity around the world, and its strategy to become an AI-driven expert platform”. Intuit shares were up by 0.15% in after-hours trading.

Source: Moneycontrol