Last week, Adobe announced it's acquiring Marketo, the renowned marketing software company, from Vista Equity Partners for $4.75 billion.
“Adobe and Marketo both share an unwavering belief in the power of content and data to drive business results.
Together we will deliver an unrivalled solution that will place customer experience and engagement at the heart of digital transformation. This announcement is a momentous occasion for Marketo, as it signals the next phase of our company’s growth.”
Who is Marketo?
Marketo was founded in 2006, went public in 2013 and was acquired by Vista for $1.8 billion in 2016. Marketo’s impressive customer list includes Canon, Charles Schwab, Eventbrite, GE, Microsoft and Hyundai. Steve Lucas, will continue to lead the company inside Adobe’s Digital Experience group and will join Adobe’s senior leadership team.
By marketers, for marketers, Marketo has grown into a leader in marketing automation: put simply, their mission is to solve the problems marketers experience on a day to day basis. And this problem-solving ethos is where it all began.
In 2006, Phil Fernandez and his co-founders began cold-calling CMOs to ask what kept them up at night. When one said she was under pressure because her board challenged her to provide data on her marketing ROI, the three decided then and there to create Marketo. Their mission was to help marketers everywhere answer these tough questions.
What will this mean to Adobe and their customers?
JH CEO, Jamie Huskisson had this to say on the news:
“This is an incredibly exciting acquisition to see Adobe make. When Magento came into the Adobe family, we immediately saw the possibilities for combining and integrating relevant products within the Adobe suite. Marketo is no different, taking marketing automation to a whole other level, and offering a huge amount of advantages to Magento Commerce customers.”