Adobe on Thursday announced that it's acquiring Marketo, a company that sells marketing software, from Vista Equity Partners for $4.75 billion. Adobe executives will hold a conference call with investors and analysts at 5 p.m. Eastern to discuss the deal.
The move could have implications for other competitors like HubSpot, Oracle, SAP and Salesforce.
Earlier on Thursday CNBC reported that Adobe was close to announcing the deal.
"Adding Marketo's engagement platform to Adobe Experience Cloud will enable Adobe to offer an unrivaled set of solutions for delivering transformative customer experiences across industries and companies of all sizes," Adobe said in a statement.
Marketo was founded in 2006, went public in 2013 and was acquired by Vista for $1.8 billion in 2016. Marketo's customer list includes Canon, Charles Schwab, Eventbrite, GE, Microsoft and Hyundai. Marketo's CEO, Steve Lucas, will continue to lead the company inside Adobe's Digital Experience group and will join Adobe's senior leadership team, the statement said.
Adobe stock is up 78 percent in the past year. The majority of Adobe's revenue comes from its Digital Media business, which includes the Creative Cloud software. Marketing software is included in the Digital Experience business, which generated $614 million in revenue in the most recent quarter, with 21 percent growth year over year.
Adobe's software has proven useful for marketing directly to consumers, while Thursday's statement emphasized that Marketo offers marketing tools to people working inside of businesses.
This is breaking news. Please check back for updates.
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