Adobe, known for its Creative Cloud software, purchases Marketo for $4.75 billion
Adobe hopes to close the deal by their fourth quarter. The deal sets Adobe up to compete in the enterprise marketing space with companies like Salesforce, Microsoft, Oracle, and SAP.
- With the acquisition of Magento in May, Adobe will have both the marketing and e-commerce capacity to move further into the enterprise marketing industry.
- Adobe has enjoyed record profits this quarter, reporting earnings of $2.29 billion for the third quarter. Adobe is expected to earn $10 billion this year. A majority of their income comes from their Creative Cloud software, including Photoshop, Illustrator, and InDesign.
- Stock prices in Adobe have increased from $149.96 last year to $266.05.