Summary
Adobe Inc. has announced a significant acquisition via an 8-K filing on September 20, 2018, detailing the entry into a Share Purchase Agreement to acquire Marketo for approximately $4.75 billion in cash. This strategic move aims to enhance Adobe's Experience Cloud by integrating Marketo's marketing automation solutions. The acquisition is subject to customary closing conditions, including regulatory approvals such as the Hart-Scott-Rodino Act, and is expected to close in Adobe's fiscal fourth quarter of 2018. The purchase price will be financed through a combination of cash on hand and new debt. This filing serves to inform investors about the material definitive agreement, providing details on the transaction's structure, terms, and expected closing timeline.
Key Highlights
- 1Adobe Inc. to acquire Marketo for $4.75 billion in cash.
- 2Acquisition is expected to strengthen Adobe's Experience Cloud offering.
- 3Transaction is subject to regulatory approvals, including antitrust review (Hart-Scott-Rodino Act).
- 4Deal is anticipated to close during Adobe's fiscal fourth quarter of 2018.
- 5Financing for the acquisition will come from existing cash and new debt.
- 6The Share Purchase Agreement contains customary representations, warranties, and covenants.
- 7The transaction has been unanimously approved by Adobe's Board of Directors.