U.S. computer software leader Adobe confirmed Thursday a 4.75 billion-U.S.-dollar deal to acquire Marketo Inc., a firm that focused on account-based marketing software aiming for expanded B2B marketing engagement.
Adobe said its takeover of Marketo from venture capital firm Vista Equity Partners that bought Marketo in 2016 "will offer an unrivaled set of solutions for delivering transformative customer experiences across industries and companies of all sizes."
"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 of Digital Experience at Adobe.
Marketo, founded in 2016 and based in San Mateo city in northern California Bay Area, has over 500 partners and an engaged marketing community with over 65,000 members. Its customers include Canon, Charles Schwab, General Electric, Microsoft and Hyundai.
The transaction is expected to in the fourth quarter of Adobe's 2018 fiscal year, and Marketo CEO Steve Lucas will join Adobe's senior leadership team and continue to lead the Marketo team as part of Adobe's Digital Experience business, Adobe said.
