Marketo Said Working With Morgan Stanley on Possible SaleBy , , and
Marketo makes cloud-based marketing-automation software
Ex-CFO Fred Ball transitioned to strategy role in March
Marketo Inc., a maker of marketing software, is working with Morgan Stanley to explore strategic alternatives including a potential sale, people with knowledge of the matter said.
No deal is imminent and discussions with potential buyers may not result in a transaction, said the people, who asked not to be identified because the talks are private. Marketo, whose customers include CA Technologies and Charles Schwab Corp., is speaking with both strategic companies and private equity firms to gauge their interest in acquiring the company, the people said.
Representatives for Marketo and Morgan Stanley declined to comment. Marketo, based in San Mateo, California, jumped 13 percent to $24.27 as of 2:44 p.m. in New York, giving the company a market value of more than $1 billion.
In March, the company moved former Chief Financial Officer Fred Ball into a role “leading the company’s strategic planning.” Brian Kinion was promoted to CFO.
Last month, Marketo said first-quarter revenue climbed 35 percent from the year-earlier period to $62.2 million.
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