Chat with us, powered by LiveChat

Adobe to acquire Magento for $1.68B

icon36_bigAdobe to acquire Magento for $1.68B

 

Adobe announced today that it was acquiring Magento for $1.68 billion. The purchase gives Adobe a missing e-commerce platform piece that works in B2B and B2C contexts and should fit nicely in the company’s Experience Cloud.

It should also help Adobe compete with Salesforce, which offers its own marketing, sales and service offerings in the cloud and which bought Demandware for more than $2 billion in 2016 to provide a similar set of functionality.

As Content + Commerce capabilities have become inextricably linked, commerce plays a more integral part of the consumer experience than ever before.

With Magento’s position as the world’s most popular commerce platform and Adobe’s leadership in designing and delivering great digital experiences, we will enable every business to create and deliver compelling real-time experiences, engage with customers across every touchpoint, and transact anywhere across the entire customer journey for both B2C and B2B.

Magento stands at the forefront of a tremendous opportunity:

  • To offer even greater value to customers, partners and developers across their commerce investment
  • To accelerate our product roadmap enabled by the breadth and depth of Adobe’s product capabilities and cloud technology
  • To tap Adobe’s global operational scale to accelerate our penetration into new verticals and geographies
  • To harness the creative passion of our Community towards our mission of using technology to connect and empower people

With Adobe, a shared cultural focus on empowerment, creativity, extensibility, collaboration, contribution and inclusion.

The acquisition is expected to close in the Adobe fiscal third quarter, subject to regulatory approvals and other customary closing conditions.

This isn’t the first time the company has been acquired. Magento was founded in 2008 and purchased by eBay in 2011 in a deal reported to be just $180 million. The company went private again in 2015 with help from Permira Funds, which sources say paid around $200 million.

Comments are currently closed.

top