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Adobe plans to acquire Marketo for $4.75 billion
Adobe Systems Inc. has agreed to acquire software maker Marketo from a private-equity firm for $4.75 billion, the company announced Thursday afternoon. Marketo, which makes business marketing software, went public in 2013 but was acquired by Vista Equity for $1.8 billion in cash in 2016. Adobe plans to add the service to its so-called Experience Cloud. “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,” the executive in charge of Adobe’s Experience Cloud, Brad Rencher, said in Thursday’s announcement. Multiple news organizations had previously reported the deal was in the works. Adobe said the transaction should close by the end of the current fiscal quarter, Marketo Chief Executive Steve Lucas will stay on and report to Rencher. Adobe planned a conference call at 5 p.m. Eastern time to discuss the acquisition. Adobe shares gained about 0.3% in immediate after-hours trading, after closing with a 0.6% gain at $266.34. The stock has gained 52% this year, as the S&P 500 index has gained 8.8%.