Vista Equity Partners completes acquisition of marketing software innovator Marketo
Marketo, one of the leading provider of engagement marketing software and solutions, has been acquired by Vista Equity Partners ("Vista"), the company announced today.
The acquisition – which will combine Marketo's product and industry leadership with Vista's unique investment and operating model for high-growth SaaS companies - marks the next phase of growth for Marketo, in which the company will continue to focus on setting the agenda for innovation and thought leadership for the entire digital marketing industry.
The transaction, originally announced on May 31, 2016, was completed on August 16, 2016. Marketo's shareholders approved the agreement on July 28, 2016. Vista is a leading private equity firm focused on investments in software, data, and technology-enabled businesses.
"Ten years ago, we embarked on a journey to create a new kind of enterprise software company that would transform the way companies market to and engage with their customers," said Phil Fernandez, chairman and CEO of Marketo. "Our partnership with Vista will allow us to double down on that vision and focus on accelerating our execution toward product innovation and customer success for companies in fast-growth and enterprise business and consumer segments."
"We see significant value in Marketo's ability to enable organizations to increase digital intimacy and lifetime value with their customers and consumers leveraging the Marketo Marketing Platform," said Brian Sheth, co-founder and president of Vista. "We are aligned with Marketo's vision to lead the market in digital marketing transformation, and we're thrilled to work with the management team to help Marketo reach its full potential."
Marketo's common stock will continue trading on August 16, 2016, and thereafter cease to be traded on NASDAQ.