Marketing automation software developer Marketo has been acquired by Vista Equity Partners, a private equity firm focused on investments in software, data, and technology-enabled businesses.
The transaction, originally announced on 31 May 2016, was completed on 16 August.
The acquisition – which combines Marketo's product and industry leadership with Vista's investment and operating model for high-growth SaaS companies – begins the next phase of growth for Marketo, in which the company will continue to focus on setting the agenda for innovation and thought leadership for the digital marketing industry.
"Ten years ago, we embarked on a journey to create a new kind of enterprise software company that would transform the way companies market to and engage with their customers," says Phil Fernandez, chairman and CEO of Marketo. "Our partnership with Vista will allow us to double down on that vision and focus on accelerating our execution toward product innovation and customer success for companies in fast-growth and enterprise business and consumer segments."
"We see significant value in Marketo's ability to enable organisations to increase digital intimacy and lifetime value with their customers and consumers leveraging the Marketo Marketing Platform," says Brian Sheth, co-founder and president of Vista. "We are aligned with Marketo's vision to lead the market in digital marketing transformation, and we're thrilled to work with the management team to help Marketo reach its full potential."
Marketo's common stock will continue trading on 16 August and thereafter cease to be traded on NASDAQ.
Golub Capital acted as administrative agent and collateral agent for the senior credit facility issued to support the acquisition. Wilson Sonsini Goodrich & Rosati served as legal adviser to Marketo.
