Deals
Vista Outduels Corporate Bidders for Long-Bet Growth Targets
- Private equity firm triumphs over Oracle, SAP for Marketo deal
- Strategy targeting growth bucks traditional buyout blueprint
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Marketo Inc. co-founder Phil Fernandez put his Silicon Valley company up for sale in 2016 with the expectation it would be folded into a technology giant.
SAP SE and Oracle Corp. had expressed interest in buying Marketo to bulk up on automated marketing software, according to people familiar with the matter, who asked not to be identified because the process was private. With both willing to pay cash, it was highly unlikely a private equity firm could assemble a financing package quickly enough -- or pay an acceptable premium -- without putting its required return at risk.