Adobe is trying to stay competitive by filling in the gaps on their digital marketing strategy with the purchase of Neolane for 600 million. The deal closes in July and has been cited as a way for Adobe to to fill a "glaring hole" in its product lineup. Why the hefty spend on a company with $58M annual revenues to date? This acquisition will surely keep up with other competitors that are leading the next generation in digital. Salesforce purchased Exact Target for 2.5 billion and Eloqua, another digital marketing firm was acquired by Oracle in December. The deal is expected to close in July making this a positive win for a company that is in need of multiple strategies to meet new market demands. See Brad Rencher, Senior vice president and general manager of digital marketing, explain the acquisition below:
"This is a critical addition to our complete set of analytics, targeting, social, content management and media optimization solutions. Neolane will integrate with our solutions to empower cross-channel and highly personalized campaign management across the web, email, social, mobile, point of sale, direct mail, call center and other emerging channels.The combination of Adobe and Neolane will give customers richer customer profiles, greater activation of social and mobile data, better definition of highly valuable customer segments, and more sophisticated automation and execution platforms. Many customers already rely on both Adobe and Neolane and will benefit from further integration between the Adobe Marketing Cloud and Neolane’s cross-channel capabilities."
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