Vista Equity Partners, a private equity firm focused on investments in software, data and technology-enabled businesses, is to acquire Marketo, Inc. (NASDAQ: MKTO), a San Mateo, CA-based provider of engagement marketing software and solutions.
Vista will acquire all outstanding shares of Marketo common stock for a total value of approximately $1.79 billion. Shareholders will receive $35.25 in cash per share, representing a 64% premium to the unaffected closing price as of May 9, 2016.
The closing of the deal, still subject to customary closing conditions, including the approval of Marketo shareholders and antitrust approval in the United States, is expected to occur in the third quarter of 2016.
Led by Phil Fernandez, chairman and CEO, Marketo provides an engagement marketing software and solutions for marketers to develop long-term relationships with their customers – from acquisition to advocacy.
With offices around the world, the company today serves both large enterprise and growing small companies across a wide variety of industries.