Marketo Shares Jump on Reports of Advanced Acquisition Talksby
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.