Adobe to Takeover Marketo

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Adobe Systems Inc (Nasdaq: ABDE) revealed on September 20 that it purchased Marketo Inc for $4.75b. The deal is expected to close in the fourth quarter of Adobe’s fiscal year. Morgan Stanley and JPMorgan Chase served as financial advisers for this deal with Davis Polk & Wardwell serving as legal adviser. Brad Rencher, Adobe’s Executive Vice President, explained that this acquisition will improve Adobe’s customer experience across B2B and B2C. This deal will also improve Adobe’s ability to compete against Salesforce.com Inc and Oracle Corp in the business software market. Adobe Systems is one of the largest software companies in the world, and this deal would be the largest acquisition in the company’s history. The announcement of this transaction caused Adobe’s stock price to increase by 0.55% by the end of the day.

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