Adobe has confirmed it would be acquiring B2B marketing cloud platform Marketo for US$4.75 billion, a transaction expected to close in Adobe’s fourth quarter of its fiscal year.
Upon closing, the move will see Marketo CEO Steve Lucas joining Adobe’s senior leadership team, while continuing to lead the Marketo team as part of Adobe’s Digital Experience business, reporting to executive vice president and general manager Brad Rencher.
Through the move, Adobe plans to marry its Adobe Experience Cloud analytics, content, personalisation, advertising and commerce capabilities with Marketo’s lead management and account-based marketing technology. This is to provide B2B companies with the ability to create, manage and execute marketing engagement at scale, the statement read.
Marketo’s ecosystem also currently includes over 500 partners and an engaged marketing community with over 65,000 members.
According to Rencher, 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. He added “The imperative for marketers across all industries is a laser focus on providing relevant, personalized and engaging experiences.”
“Adobe and Marketo both share an unwavering belief in the power of content and data to drive business results. Marketo delivers the leading B2B marketing engagement platform for the modern marketer, and there is no better home for Marketo to continue to rapidly innovate than Adobe,” Lucas added.