Marketo, which went public in 2011 but was acquired by Vista Equity Partners last May for about $1.79 billion, has been focused on building an ecosystem of marketing technology via third-party ad ons and corporate partnerships.
The purchase of ToutApp is more of an effort to bring desired technology in-house, which in this case is ToutApp's sales software.
In a nutshell, ToutApp provides sales teams with campaign tracking, content management, and analytics software. Marketo plans to combine ToutApp's toolset with its ABM and sales insights portfolios. Marketo said the combination will enable its customers to align revenue teams and better coordinate their sales and marketing technologies.
The acquisition is also part of a larger strategy for the company's next phase of growth, which will likely be explained in more detail during Marketo's upcoming Marketing Nation Summit.
"Brands that win today engage customers in a meaningful way at every step of the journey and this requires coordinated execution across the entire enterprise, particularly within sales and marketing," said Marketo CEO Steve Lucas. "I'm thrilled to welcome TK [ToutApp CEO Tawheed Kader] and his team at ToutApp to Marketo, where together, we'll enable marketing and sales teams to drive revenue and demand seamlessly."
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