After three years as a public company, Marketo (NASDAQ: MKTO) is once again returning to private ownership. The marketing automation company has agreed to be acquired by Vista Equity Partners for $35.25 per share in cash, a total of about $1.79 billion. Prior to its 2013 IPO, Marketo had raised a number of VC rounds, including a $50 million Series F led by Battery Ventures in 2011 that valued the company at $372.6 million.
The sizable Marketo deal, expected to close in 3Q, adds to Vista’s already-impressive portfolio of software companies. According to the PitchBook Platform, Vista is the most active PE investor in software since 2011 by a wide margin, with 77 completed deals (including add-ons). The largest among them is the $6.5 billion take-private purchase of Solera, a provider of risk & asset management software and services, executed in March.