Adobe today announced it has entered into a definitive agreement to acquire Marketo, the market-leading cloud platform for B2B marketing engagement, for $4.75 billion.
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."
The transaction, which is expected to close during the fourth quarter of 2018 fiscal year, is subject to regulatory approval and customary closing conditions, according to the statement issued by the company.
Until the transaction closes, each company will continue to operate independently, it added.
"Adobe and Marketo both share an unwavering belief in the power of content and data to drive business results," said Steve Lucas, CEO, Marketo. "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."
In addition to that this acquisition brings together the richness of Adobe Experience Cloud analytics, content, personalization, advertising and commerce capabilities with Marketo's lead management and account-based marketing technology to provide B2B companies with the ability to create, manage and execute marketing engagement at scale.
Furthermore, 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, reporting to executive vice president and general manager Brad Rencher.
This acquisition will enable Adobe to offer an unrivaled set of solutions for delivering transformative customer experiences across industries and companies of all sizes.