Israeli startup Insightera has agreed to be acquired by U.S. company Marketo, which sells marketing software platforms. The Petah Tikva-based company develops systems that help businesses personalize content on their own websites.
The two firms announced the deal on Thursday. The price California-based Marketo will be paying for the Israeli firm has not been disclosed, but it is believed to be about $25 million.
The sale of Insightera is the first exit by Glilot Capital Partners, a small venture capital fund headed by Kobi Samboursky and Arik Kleinstein. Along with Lightspeed Venture Partners (which has an Israel office in Herzliya Pituah) and California-based Opus Capital, Glilot invested a total of $6.5 million in Insightera.
The Petah Tikva startup, which has 20 employees – 15 of whom are based in Israel – was founded in 2009 by its CEO, Mickey Alon, and Mike Telem, who is the company’s VP for business development. “We’ve already been cooperating with Marketo for some time, and our ties with them got closer,” Telem said Thursday. “We received an offer and we decided to go with it.”
With the acquisition of Insightera, Marketo will set up a research and development center in Israel, which will employ Insightera’s current workforce. Telem said the expectation is that the R&D center will grow substantially.
Marketo is trading on NASDAQ at a market capitalization of about $1.1 billion, following an initial public offering last May.