PE firm acquires Marketo for $1.8bn
After only a few years as a public company, Marketo has been acquired by private equity firm Vista Equity Partners for US$1.79 billion. For shareholders the sale yielded a 64% premium on Marketo's share price on 9 May. Rumours had been rife Marketo would be bought by tech giants including Microsoft and SAP. CEO and co-founder Phil Fernandez says private ownership will allow the company to focus on "innovation" and "customer success". Marketo, which has more than 4,600, provides consumer, segmented and mobile marketing solutions as well as customer acquisition tools.
Guvera plans to raise $80m in IPO
Digital music company Guvera plans to raise $80 million in an IPO by issuing 80 million shares at $1 each, it has revealed in a prospectus filing. AMMA Private Equity has agreed to underwrite $10 million of the funds raised under the offer,conditional on Guvera raising $30 million. Guvera has more than 14 million users across 10 countries and its indicative market capitalisation is approximately $588 million on the ASX listing.
Future Forum speakers announced
The newly rebranded NewsMediaWorks, has announced the first of its international keynote speakers for the annual Future Forum conference for news media.
The speakers are Dow Jones CEO William Lewis, Trinity Mirror commercial director Blanche Sainsbury and Toronto Star editor Michael Cooke. The Future Forum will be held on 2 September at The Ivy in Sydney.
Archibald / Williams hires first head of strategy
Archibald / Williams will bolster its strategic offering with the appointment of Mary Perebzak as the agency’s head of strategy. Previously Perebzak was head of strategy at Isobar Australia, working with clients including David Jones and Stockland. She also held roles at M&C Saatchi and Diageo.
OOH continues to accelerate
The Out-of-Home (OOH) industry has reported a net revenue of $63.4 million for the month of May, an increase of 19.6% from the same month last year, which posted a net revenue of $53.0 million. Year-to-date revenue has increased by 17.8%, tracking at $295.0 million, up from $250.5 million* for the same time last year. Digital Out-of-Home revenue makes up 36.8% of total revenue year to date, up from 22.5% for the same period last year.
Source: The Outdoor Media Association
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