Shares of Marketo are up nearly double digits in Tuesday’s trading session after Vista Equity Partners said it would acquire the company for $1.8 billion. The private equity firm will pay $35.25 a share in cash for the marketing software maker. Marketo CEO Phil Fernandez says the acquisition will enable the company to deliver its mission to give marketers and C-suite executives an ultra-high-scale enterprise platform for customer engagement. The deal is expected to close in the third quarter of this year, but it must still be approved by Marketo shareholders. Speculation about a possible takeover had prompted RBC Capital Markets to downgrade Marketo shares to SECTOR PERFORM, prior to Vista Equity’s announcement. Shares of Marketo are up nearly 23 percent this year.
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