By Doug Zanger

Cloud-based marketing software company Marketo has been acquired by Vista Equity Partners, a private equity firm, for approximately $1.79bn (£1.23bn) in cash, chief executive Phil Fernandez said in a statement today (31 May).

The company has been publicly traded since 2013 and this marks a return to private ownership. According to CNBC, the $35.25 (£24.28) in cash per share represents a 64 per cent premium to the company’s 9 May closing price.

Vista Equity Partners will own 100 per cent of the company and the transaction is expected to close in the third quarter of this year.

“After careful consideration and deliberation, our Read full story ›

Source: The Drum