Adobe Concludes Marketo Acquisition for About $ 5 Billion, According to Sources

The acquisition will help Adobe better compete with Salesforce, which has embarked on marketing automation – to manage relationships with potential and existing customers across multiple channels to drive sales – with its acquisition of ExactTarget in two, $ 5 billion. never, according to data compiled by CNBC.

An Adobe spokesperson would not comment. Marketo did not immediately respond to a request for comment. A spokesman for Vista declined to comment.

Marketo was launched in 2006 by a group of co-founders, including Phil Fernandez, CEO of the IPO in 2013. He remained at the helm even after the privatization of the company in May 2016. Fernandez has resigned later was replaced by Steve Lucas, an industry veteran of more than two decades. Lucas was previously president of the SAP platform and analytics group and previously served as senior vice president at Salesforce.

Eloqua, one of Marketo's major competitors, became public in August 2012 and was acquired by Oracle four months later for $ 871 million.

– Jordan Novet and Ari Levy of CNBC contributed to this report.