Marketo Sells To Private Equity Firm For $1.79 Bil

Marketo, a publicly traded marketing automation software provider, this morning announced an agreement to be acquired by private equity firm Vista Equity Partners in a cash deal valued at $1.79 billion.

The companies said Marketo shareholders will receive $35.25 in cash per share, “representing a 64% premium” relative to the May 9, 2016 closing price.

The value is slightly higher than the stock’s 12-month high of $33.90, but a substantial value over its 12-month low of $12.86.

There had been speculation that a sale was imminent.

In a statement, Marketo Chairman-CEO Phil Fernandez said the deal was in the best interest of the company and its shareholders and that it will enable Marketo to continue operating as an independent company.



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