Name: Adobe Flexes Marketing Muscle, Will Buy Marketo
Uploaded: 2018-09-21
Duration: 58 s
Description: It’s a $4.75 billion deal.

Adobe Flexes Marketing Muscle, Will Buy Marketo

Adobe is planning on bulking up on its digital marketing with the acquisition of Marcato for $4.75 billion. Fortune reports that the deal underscores the company's expansion beyond its roots in Photoshop photo editing. Adobe says it's hoping to challenge larger companies like Oracle, Salesforce and S. A P. Fortune reports that the Marcato acquisition is a big win for the company's previous owners, Vista Equity Partners. That firm bought Marcato in 2016 for $1.79 billion and more than doubled its investment. Shares of Adobe looked relatively flat in after hours trading on Thursday after the announcement of the deal. Adobe has converted its Photoshop and related software to a cloud subscription model, and that move has revitalized the company's business And, according to Fortune in 2017, Adobe joined the Fortune 500 list for the first time. The deal is expected to close in the quarter ending December 1st