Updated: Oct 31, 2018
The Software giant announced, in early September its intent to purchase the popular sales and marketing cloud platform.
US computer software giant Adobe has entered into an agreement to buy cloud platform provider Marketo for $4.75 billion. The Company said in a press release.
The deal is expected to close in the fourth quarter of the year and is subject to regulatory approval.
Following closure of the transaction, Marketo’s chief executive Steve Lucas will become part of Adobe’s executive team, reporting to Adobe’s vice president Brad Rencher. Lucas will continue to lead Marketo.
The acquisition is subject to customary purchase price adjustments.
Adobe said in a statement that Marketo’s engagement platform will enable the company to offer solutions “for delivering transformative customer experiences across industries and companies of all sizes.”
The deal combines Adobe Experience Cloud analytics and Marketo’s management and account-based marketing technology, allowing business-to-business companies to create and manage marketing engagement at scale.
“The imperative for marketers across all industries is a laser focus on providing relevant, personalized and engaging experiences. The acquisition of Marketo widens Adobe’s lead in customer experience across [business-to-consumer] and [business-to-business] and puts Adobe Experience Cloud at the heart of all marketing,” Rencher said.
Phil Fernandez, Jon Miller, and David Morandi founded Marketo in 2006. Two years later the company introduced its Marketo Lead Management product, followed by Marketo Sales Insight and Marketo Revenue Cycle Analytics in 2009 and 2010.
In 2012, Marketo closed the acquisition of SaaS-based social marketing platform Crowd Factory, allowing the buyer to integrate social media marketing offerings to its application portfolio.
“Adobe and Marketo both share an unwavering belief in the power of content and data to drive business results. Marketo delivers the leading [business-to-business] marketing engagement platform for the modern marketer, and there is no better home for Marketo to continue to rapidly innovate than Adobe,” said Marketo’s chief executive Steve Lucas.