Act-On Acquired by Banzai for $53 Million
Act-On, the long-established marketing automation platform, has been acquired by Banzai, a special purpose acquisition company that owns a range of marketing solutions. Act-On raised a total of $93 million since was founded in 2008, maintaining a small but persistent share of its market. Its sale in a cash-plus-stock-and-warrant deal valued at $53 million reflects the challenges now facing independent martech specialists.