Marketing technology firm Zeta Global Holdings Corp. announced today that it will acquire the enterprise software business of Marigold in a deal valued at up to $325 million.

Under the terms of the deal, Zeta will acquire several enterprise-focused platforms of Marigold, officially named Iris Holding LP. They include Cheetah Digital, Selligent, Sailthru, Liveclicker, Grow and Marigold Loyalty. The company’s small-business brands, such as Campaign Monitor, Emma and Vuture will remain with what’s left of Marigold once the transaction is completed.

The acquisition consists of $100 million in cash, $100 million in Class A Zeta common stock and a seller note that is payable within three months of closing for an amount equal to up to $125 million in cash and stock.

the deal is expected to close by the end of the year.

Benefits of the deal include Zeta expanding its global enterprise client roster, with Marigold’s enterprise business adding more than 100 enterprise brands and over 40 Fortune 500 companies to Zeta’s existing customer lineup.

The deal is also expected to accelerate cross-selling and upselling within the “One Zeta” platform, combining data, personalization and loyalty capabilities into a single suite. One Zeta is Zeta Global’s unified marketing ecosystem that integrates identity, intelligence and omnichannel activation into a single stack, designed to allow clients to buy, operate and cross-sell all modules under one platform rather than managing disparate point solutions.

Additional benefits from the acquisition also include extending Zeta’s global reach, extending its footprint into Europe, the Middle East and Africa and giving the company an entry point into the Asia Pacific region.

On the financial side, Zeta says the to-be-acquired business had a cost of revenue below 30% in the fiscal year ended June 30, 2025 and more than 90% of its revenue in fiscal year 2025 was subscription-based and highly visible. The transaction is expected to boost Zeta’s profits and cash flow within its first year.

“By combining Marigold’s enterprise marketing strengths in loyalty, omni-channel engagement and personalization with Zeta’s AI-powered platform and global data assets, we expect to strengthen our combined offerings, deepen customer relationships and deliver more value to enterprises seeking to capitalize on AI and first-party data,” David A. Steinberg, co-founder, chairman and chief executive officer of Zeta Global, said in a press release. “We also believe we will bring substantial benefits to Marigold’s customers through our One Zeta model.”

Image: Marigold