Zeta Global (NYSE: ZETA) agreed to acquire Marigold’s enterprise software business—spanning Marigold Loyalty, Cheetah Digital, Selligent, Sailthru, Liveclicker and Grow—for up to $325 million, comprising $100 million in cash and $100 million in Class A shares at closing plus a seller note of up to $125 million payable within three months. The deal, expected to close by year-end 2025, excludes Marigold’s SMB units (Campaign Monitor, Emma, Vuture) and is projected to be accretive to adjusted EBITDA and free cash flow in year one.

Zeta said the acquisition adds 100+ global enterprise brands—including 20 of the top 100 advertisers and 40+ Fortune 500 companies—expands its EMEA footprint and opens APAC entry, and creates cross-sell opportunities across its AI Marketing Cloud; the company reaffirmed its Q3 and full-year 2025 guidance and said the transaction should be incremental to its 2028 targets.