May 24, 2018
Adobe this week announced it has acquired e-commerce platform Magento for $1.68 billion. With the deal, Adobe follows other business software providers that now enable commerce. Specifically, the deal echoes Salesforce’s 2016 acquisition of e-commerce platform Demandware: a large, cloud-based provider adding commerce to content, CRM, marketing and analytics services. Industry observers said that Magento’s robust development community that has enabled merchants using the platform to easily plug in services enabling payments and fraud prevention was attractive to Adobe in seeking out this deal.
“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 of Magento, who will continue to lead the Magento team post-integration. “We’re excited to join Adobe and believe this will be a great opportunity for our customers, partners and developer community.”
The companies expect the transaction to close in the third quarter of this year.