Adobe acquired leading commerce platform Magento for $1.68 B
Most people probably recognize Adobe Systems Inc. for its suite of creative software products, including Photoshop, InDesign, Illustrator, and more. While this family of products has definitely formed the bulk of the company’s sales and offerings, Adobe has, in recent years, attempted to diversify into other verticals like digital advertising and cloud-based commerce. The last vertical falls under the Experience Cloud, a suite of digital services that offers analytics and advertising tools. In a bid to build this segment further, Adobe acquired Magento Commerce, a market-leading commerce platform, for $1.68 billion in cash, subject to customary purchase price adjustments.
In a statement about the acquisition, Brad Rencher, Executive Vice President and General Manager, Digital Experience, Adobe, said, “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…Embedding commerce into the Adobe Experience Cloud with Magento enables Adobe to make every moment personal and every experience shoppable.”
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