Confirming the rumors saying Adobe would be buying Marketo, Yesterday Adobe has released a press release on their official website about the $4.75 billion deal. Adobe is buying Marketo from Vista Equity Partners.
Marketo, Inc. is a B2B software company focused on account-based marketing, including email, mobile, social, digital ads, web management, and analytics.
It is a pretty good deal for Vista Equity Partners, which bought Marketo in May 2016 for $1.8 billion and is now selling it for a profit of $2.95 billion.
The U.S. Photoshop maker recently in this May bought Magento for $1.6 billion.
Magento is an open-source e-commerce platform written in PHP.
With these acquisitions, Adobe now has Marketing and E-commerce, which will give the power it lacked to fight Microsoft, Oracle, and Salesforce, and all it cost was over $6 billion to get there.
“The acquisition of Marketo widens Adobe’s lead in customer experience across B2C and B2B and puts Adobe Experience Cloud at the heart of all marketing,” said Brad Rencher, executive vice president, and general manager, Digital Experience, Adobe.
Marketo’s CEO, Steve Lucas, will continue to lead the company inside Adobe’s Digital Experience group and will join Adobe’s senior leadership team.
The deal is expected to close in Adobe’s 4th quarter.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.