Intuit to Acquire Credit Karma for $7 Billion

Over the weekend we learned that Intuit, the makers of TurboTax, Mint and Quickbooks, is close to acquiring Credit Karma, the leader in credit information for consumers; the acquisition, which could be announced as early as this afternoon, is for $7 billion in cash and stock; Credit Karma would become an independent unit inside Intuit with CEO and co-founder, Ken Lin, remaining in charge; Credit Karma was last valued at around $4 billion two years ago and publicly traded Intuit is valued at around $77 billion; this is the latest in a series of big fintech acquisitions that have been announced this year as 2020 is shaping up to be the year of consolidation. Lend Academy

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