Adobe makes $4.75bn move for marketing software specialists Marketo
Computer software giant Adobe has confirmed it is to resource a buy out of marketing software firm Marketo to the tune of $4.75bn, a sign of its growing commitment to cloud-based digital marketing.
Adobe makes $4.75bn move for marketing software specialists Marketo
Best known for its popular graphic design software such as Adobe Photoshop and Adobe Acrobat the firm is now in process of reorienting itself toward the rapidly expanding cloud computing sector, where it faces stiff competition from the likes of Microsoft, Oracle and Salesforce.
In alighting on Marketo Adobe was drawn to its homegrown business-to-business marketing applications which it views as the perfect foil for its own skillset in offering cloud-based tools to aid the creation, management and analysis of advertising and marketing campaigns.
Both sides have already agreed terms for the deal in the fourth quarter of the 2018 financial year, after which Marketo chief executive officer Steve Lucas will join Adobe’s senior leadership team, while continuing to oversee the Marketo division.
The Marketo acquisition comes mere months after Adobe splashed out $1.68bn to acquire Magento Commerce, now in process of being integrated into Adobe Experience Cloud with the goal of delivering a single platform that serves both B2B and B2C brands.
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