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Adobe to acquire Marketo for $4.75 billion
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IANS | 22 Sep, 2018
Software major Adobe has struck a deal to acquire Marketo, a leading
Cloud platform for business-to-business marketing engagement, for $4.75
billion.
"The acquisition of Marketo widens Adobe's lead in
customer experience across B2C (business-to-consumer) and B2B
(business-to-business) and puts Adobe Experience Cloud at the heart of
all marketing," Brad Rencher, Executive Vice President and General
Manager, Digital Experience, Adobe, said in a statement on Thursday.
The deal is Adobe's largest ever and puts the company in more direct competition with Oracle and Salesforce, ZDNet reported.
Adobe
said the transaction, which is expected to close during the fourth
quarter of the company's 2018 fiscal year, is subject to regulatory
approval and customary closing conditions.
Until the transaction
closes, each company will continue to operate independently, the San
Jose, California-headquartered Adobe said.
Marketo is
headquartered in San Mateo, California, with offices around the world,
and serves as a strategic partner to enterprises across a wide variety
of industries.
With nearly 5,000 customers, Marketo brings
together planning, engagement and measurement capabilities into an
integrated B2B marketing platform.
Adobe hopes that adding
Marketo's engagement platform to its "Experience Cloud" will enable
Adobe to offer an unrivalled set of solutions for delivering
transformative customer experiences across industries and companies of
all sizes.
The Adobe Experience Cloud platform enables B2C
companies to drive business impact by harnessing massive volumes of
customer data and content in order to deliver real-time, cross-channel
experiences that are personalised and consistent.
This
acquisition brings together the richness of Adobe Experience Cloud
analytics, content, personalisation, advertising and commerce
capabilities with Marketo's lead management and account-based marketing
technology to provide B2B companies with the ability to create, manage
and execute marketing engagement at scale.
"Adobe and Marketo
both share an unwavering belief in the power of content and data to
drive business results," said Steve Lucas, CEO, Marketo.
"Marketo
delivers the leading B2B marketing engagement platform for the modern
marketer, and there is no better home for Marketo to continue to rapidly
innovate than Adobe," Lucas added.
Upon close of the
transaction, the Marketo CEO will join Adobe's senior leadership team
and continue to lead the Marketo team as part of Adobe's Digital
Experience business, Adobe said.
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