Adobe forks out US$4.75 billion for Marketo
- 21 September, 2018 11:39
Adobe has entered into a definitive agreement to acquire Marketo, announcing that it would shell out US$4.75 billion for the marketing technology company.
Marketo has close to 5000 customers and an ecosystem of more than 500 partners, Adobe said. More than 65,000 marketers use the platform.
“Adding Marketo’s engagement platform to Adobe Experience Cloud will enable Adobe to offer an unrivaled set of solutions for delivering transformative customer experiences across industries and companies of all sizes,” a statement released by Adobe said.
“The imperative for marketers across all industries is a laser focus on providing relevant, personalised and engaging experiences,” said Adobe’s executive vice president and general manager, Digital Experience, Brad Rencher.
“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.”
Marketo CEO Steve Lucas will join Adobe’s senior leadership team. Lucas will continue leading the Marketo team, reporting to Rencher.
“Marketo’s exceptional lead management, account-level data, and multi-channel marketing capabilities will combine with Adobe’s rich behavioral dataset to create the most advanced, unified view of the customer at both an individual and account level,” Lucas wrote in a blog entry.
“The result will be an unprecedented level of marketing engagement, automation, and attribution power, all with a goal of delivering end-to-end, exceptional experiences for our customers, where and when they want them.”
In June Adobe completed its acquisition of Magento Commerce. Adobe shelled out US$1.68 billion for the ecommerce company.