Adobe, home to high-end creativity software such as Photoshop and After Effects, has announced that it’s going to purchase Magento Commerce for $1.68 billion.
Magento is an e-commerce platform that provides users the necessary tools to start an e-commerce website, which is like WordPress for online stores, that handles both B2B and B2C transactions. Adobe already offers online services, such as its Experience Cloud, but it lacked a suitable e-commerce engagement platform.
Magento’s CEO Mark Lavelle, in his blog post, said that this acquisition will help the company further its reach into more commerce sectors and geographical locations.
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.
Adobe-Magento & Microsoft
According to market experts, Adobe’s Magento-acquisition will bring it closer to Microsoft. Both companies have already been working in close-quarters, and both companies lack a suitable e-commerce platform. Brent Leary of CRM Essentials said,
Now (after acquiring Magento) they have an offering that allows them to close the loop with consumers, who are able to finalize a digital transaction that started online with digital marketing tools Adobe already offered, but maybe even more interesting may be how this may further the relationship Adobe has with Microsoft. As they also are missing an e-commerce piece to their customer engagement platform [as well],
TechCrunch says that this is not the first time the company was acquired. eBay bought it for $180 million back in 2011 but it went private again for $200 million.
Here’s Adobe’s official announcement on the acquisition of Magento.