Act-On Software, a Portland-based marketing technology company, sold its operations to Banzai International, a Bainbridge Island, Washington-based marketing software company, on Thursday. Act-On will be acquired by Banzai for $53 million, which includes $20 million in cash and $33 million worth of shares.
Act-On, one of the best-funded companies to emerge in Portland after the Great Recession, was founded in 2008 and contributed to the development of a software cluster in the city. (Act-On moved to Portland after beginning in Beaverton.) Online marketers can use its technologies to send targeted communications to particular customer segments.
Lytics, another of those marketing tech companies, went out of business earlier this month.
