Zeta Global to Acquire Marigold's Enterprise Software Business

By Tamara Parker • Wednesday, October 01 06:03 • Permanent Link

Zeta Global, the AI marketing cloud, has announced its definitive agreement to acquire Marigold's enterprise software business, which includes Marigold loyalty, Cheetah Digital, Selligent, Sailthru, Liveclicker, and Grow. The acquisition is aligned with Zeta's guiding M&A principles and is expected to be accretive to adjusted EBITDA and free cash flow in year one. Zeta's acquisition of Marigold's enterprise software business is set to increase penetration of Fortune 500 brands and subscription revenue, advancing the company's strategic model and creating cross-sell and up-sell opportunities to over 100 new global enterprise brands.

The acquisition is expected to be incremental to Zeta's 2028 targets and fits within the company's disciplined criteria to pursue accretive, strategically beneficial M&A. According to the CEO of Zeta Global, David A. Steinberg, the combination of Zeta and Marigold's enterprise marketing strengths in loyalty, omni-channel engagement, and personalization with Zeta's AI-powered platform and global data assets is expected to strengthen their combined offerings and deliver more value to enterprises seeking to capitalize on AI and first-party data.

The transaction details reveal that Zeta will purchase Marigold's enterprise software business for total consideration of up to $325 million, subject to customary adjustments. This will consist of $100 million in cash, $100 million of shares of Zeta's class A common stock delivered at closing, and a seller note payable within three months of closing for an amount equal to up to $125 million in cash and stock.

It's important to note that Marigold's SMB businesses, including Campaign Monitor, Emma, and Vuture, are not included in the transaction. The transaction is expected to close by the end of 2025 and is subject to customary closing conditions.

The acquisition reaffirms Zeta's third quarter 2025 and full-year 2025 guidance as provided on August 5, 2025. Zeta Global will also host a conference call to discuss the acquisition.

Following these announcements, the company's shares moved -4.85%, and are now trading at a price of $20.02. For the full picture, make sure to review Zeta Global's 8-K report.

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