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Analyst praises Intuit's Mailchimp acquisition despite lofty price tag

·1 min read
Analyst praises Intuit's Mailchimp acquisition despite lofty price tag
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J.P. Morgan Chase & Co. analyst Sterling Auty on Tuesday said Intuit Inc.'s acquisition of marketing automation company Mailchimp may "raise eyebrows" because of the deal's $12 billion price tag but it shows that the company "is not monkeying around" when it comes to growth. "We believe this is an excellent strategic move as it brings in a nicely profitable asset growing faster than the corporate average and further strengthens Intuit's overall small business product portfolio," Auty said in a n