Adobe has entered into a definitive agreement to acquire B2B marketing engagement platform Marketo for $4.75 billion. The transaction, which is expected to close during the fourth quarter of Adobe’s 2018 fiscal year, is subject to regulatory approval and customary closing conditions. Until the transaction closes, each company will continue to operate independently, Adobe said in a statement.
“The imperative for marketers across all industries is a laser focus on providing relevant, personalized and engaging experiences,” said Brad Rencher, executive vice president and general manager, Digital Experience, Adobe. “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.”
Upon close, Marketo CEO Steve Lucas will join Adobe’s senior leadership team and continue to lead the Marketo team as part of Adobe’s Digital Experience business. Mr. Lucas will be reporting to executive vice president and general manager Brad Rencher.
[Image courtesy: Adobe]