Adobe Systems today acquired the software company Marketo. It offers automation software for marketing companies and is designed for both small and large companies. Adobe puts sun 4.75 billion U.S. dollars on the table to make the acquisition a reality.
Marketo states that its service has been developed for marketers, by marketers. The service allows companies to manage marketing campaigns from day one and scale them up as they grow. Within the service, various insights and data are also available, including social marketing, customer relationship management and analytics. The company has a total of 6,000 customers, including major brands such as Hyundai, Microsoft and Panasonic.
Adobe plans to add Marketos platform to its Experience Cloud. In this way, it thinks it can provide a nice set of solutions for transforming customer experiences in industries and companies of all sizes. According to Brad Rencher, executive vice president and general manager of Digital Experience at Adobe, it is crucial for marketers in all industries to have a strong focus on providing relevant, personalized and immersive experiences.
Marketo’s CEO, Steve Lucas, states that the acquisition is a nice one because his company and Adobe both believe in the power of content and data to achieve business results. According to him, Marketo’s B2B platform fits in well with the innovative Adobe. The transaction is expected to be completed during the fourth quarter of Adobe’s 2018 fiscal year. At the same time, however, the approval of the competition authorities is still pending. In the meantime, both companies will continue to operate independently.
The acquisition of Marketo will immediately boost Adobe’s marketing division. Sales by the industry grew by eighteen percent to USD 586 million in the quarter. It is thought that Marketo, whose figures are not public, last year’s sun amounted to 321 million dollars.
The acquisition was won by Vista Equity Partners Management, an investment company that acquired Marketo in the course of August 2016 for 1.79 billion dollars. This means that the company now receives USDÂ 4.75Â billion, which means a profit of USDÂ 2.96Â billion on the takeover.
Incidentally, it is not the first acquisition of Adobe this year; last month it already amounted to 1.68 billion dollars for e-commerce software vendor Magneto.This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.