Home Deals Adobe to pay US$1.68 billion to acquire Magento
Adobe to pay US$1.68 billion to acquire Magento Featured

Adobe is set to acquire commerce platform Magento Commerce in a deal valued at US$1.68 billion.

The global software company, which has inked a definitive agreement to buy Magento, says the addition of the Magento cloud will enable commerce to be integrated into the Adobe experience cloud, delivering a single platform that serves both B2B and B2C customers globally.

When the deal closes, Magento chief executive Mark Lavelle will continue to lead the Magento team as part of Adobe’s digital experience business, reporting to executive vice-president and general manager Brad Rencher.

The transaction, which is expected to close during the third quarter of Adobe’s 2018 fiscal year, is subject to regulatory approval and customary closing conditions, and until the transaction closes, each company will continue to operate independently.

The Magento platform brings together digital commerce, order management and predictive intelligence into a unified commerce platform enabling shopping experiences across a wide array of industries.

“Adobe is the only company with leadership in content creation, marketing, advertising, analytics and now commerce – enabling real-time experiences across the entire customer journey,” said Brad Rencher, executive vice-president and general manager, Digital Experience, Adobe.

“Embedding commerce into the Adobe experience cloud with Magento enables Adobe to make every moment personal and every experience shoppable.”

Lavelle said Adobe and Magento share a vision for the future of digital experiences that brings together Adobe’s strength in content and data with Magento’s open commerce innovation.

“We’re excited to join Adobe and believe this will be a great opportunity for our customers, partners and developer community,” he said.

Current Magento customers include brands like Canon, Helly Hansen, Paul Smith and Rosetta Stone, and Adobe and Magento share joint customers including Coca-Cola, Warner Music Group, Nestlé and Cathay Pacific.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

 

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