Marketo Inc. shares soared to their highest price in seven months on reports the marketing software maker is in advanced talks to be acquired by a large technology company or a private equity firm.
StreetInsider reported Friday that Microsoft Corp. is prepared to bid for Marketo, while DealReporter said Vista Equity Partners, a technology-focused private equity firm, was close to a deal with the San Mateo, California-based company. Microsoft declined to comment, while Vista and Marketo representatives didn’t immediately respond to requests for comment.
Marketo shares rose 11 percent to $32.20 at the close in New York, their highest price since October 2015, on about six times the three-month average trading volume.
Marketo, whose customers include CA Technologies and Charles Schwab Corp., surged May 10 after Bloomberg reported it was working with Morgan Stanley to explore a potential sale and was speaking with strategic companies and private equity firms to gauge interest.