Marketo to be bought by Vista Equity for $1.79 billion
Vista Equity partners is set to purchase marketing automation software company Marketo in a deal valued at around $1.79 billion, Marketo has said in a statement.
Vista Equity, a private equity firm focused on software and technology-enabled businesses, offered $35.25 a share to Marketo shareholders.
According to Bloomberg, Marketo’s stock rose 11 per cent on Friday amid reports of an imminent bid.
Phil Fernandez, chairman and CEO of Marketo, commented: “Today, we embark on the next leg of our journey, as we come to an important milestone for Marketo.
“Our continued independence will allow Marketo to direct all of our energy to what we have done for so long: set the agenda for product innovation and thought leadership for the entire digital marketing industry, and to make you and the rest of the marketing nation successful.”