The leading multimedia and creative software products developing company, Adobe Systems Corporation recently announced its plans to secure the market-leading commerce platform, Magento Commerce for a whopping $1.68 billion.
Commenting on the latest acquisition plans, Executive Vice President & General Manager of Digital Experience, Adobe, Brad Rencher says, “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.”
The American Multinational Company, Adobe since its inception has focused on its unique designs and delivering outstanding digital experiences through content and data. Best known for its image editing software, Photoshop and PDF suite, Adobe has excelled the customer expectations beyond limits. Enterprises and consumers have now become digitally inclined to trade, using the World Wide Web through smartphones, social media, in-product or in-store.
Magento Commerce, on the other hand, is a top e-commerce platform, currently with a high prolific clientele base of Canon, Helly Hansen, Paul Smith and Rosetta Stone. Magento will be bringing Adobe Experience Cloud digital commerce enablement and order orchestration for both physical and digital goods across a varied range of industries.
“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,” said Mark Lavelle, CEO, Magento. “We’re excited to join Adobe and believe this will be a great opportunity for our customers, partners and developer community.”
After the acquisition, Mark Lavelle, CEO of Magento will continue to lead the company as a component of Adobe’s Digital Experience Business. At the same time, Brad Rencher will retain his position as the Executive Vice President and General Manager of Adobe Inc.
In 2015, Permira took over the control of Magento from eBay Inc. Phil Guinand, partner at Permira said, “Magento has grown its customer-base and enterprise cloud business as a result of key investments in technology, marketing, client success, sales management and the open-source community ecosystem.”
The final closure of the deal is expected to occur during Adobe’s third quarter.