ExactTarget Acquires Two Interactive Marketing Companies For $116.5 Million
ExactTarget is an e-mail marketing company that has spent $116.5 million in acquisitions to build their marketing portfolio. ExactTarget paid $95.5 million for marketing automation firm Pardot LLC and $21 million in predictive analytics company iGoDigital. Pardot is in Atlanta and iGoDigital is in Indianapolis.
Pardot was founded in 2007 and ranks 172 on Inc. magazine. They sell software to help marketers create campaigns. Some of their clients include comScore, twilio, and Restaurant.com.
iGoDigital was created in 2004 by Eric Tobias. He was the CTO of the battery supplier Technuity. Tobias is going to be leading the ExactTarget’s expanded web product. Retail companies use iGoDigital’s software-as-a-service platform to analyze a customers online behavior and make personal recommendations. Some of their users include Walmart, Staples, and P&G.
“With the addition of iGoDigital’s advanced Web capabilities and predictive analytics to the ExactTarget platform, we will continue to revolutionize marketing with a powerful suite of new applications to transform data into highly personalized, seamless experiences across e-mail, mobile, social media and the Web,” stated ExactTarget CEO Scott Dorsey.
ExactTarget went public this March and raised $161.5 million. Pardot’s purchase price was $85.5 million in cash and $10 million in ExactTarget common stock. iGoDigital received $14.7 million in cash and $6.3 million in stock.
ExactTarget had sales of $207.5 million in 2011, which is up 55% from the prior year. Their clients include Microsoft and Groupon.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry