Adobe, the leading computer software company, is acquiring Magento Commerce, a leading commerce platform, for $1.68 billion.
Founded in 2008, Magento’s platform is built on open source technology. It is supported by thousands of developers and has pre-built extensions including payment, shipping and logistics.
By acquiring it, Adobe aims to add e-commerce support to its existing cloud marketing services, and enable an experience-driven commerce.
“In announcing the acquisition of Magento, a leading commerce platform, not only are we recognizing the importance of giving brands a way to make every moment personal and every experience shoppable, we’re also underscoring the critical role that a robust global community of partners and developers play in driving innovation,” said Matt Asay, vice president of mobile for the Digital Marketing business at Adobe. “With over 315,000 developers, 800 technology partners, and 350 system integration partners, Magento brings the power of its community to Adobe Cloud Platform.”
Adobe will combine the Adobe Experience Cloud with the Magento Commerce Cloud to enable digital commerce, order management and business intelligence for both business to business (B2B) and business to customer (B2C) shopping experiences.
“Embedding commerce into the Adobe Experience Cloud with Magento enables Adobe to make every moment personal and every experience shoppable. 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,” wrote Brad Rencher, executive vice president of Digital Experience for Adobe, in a blog post.
The deal will close in the third quarter of 2018. Adobe and Magento will operate independently until the closure of the deal.
Mark Lavelle, the CEO of Magento, will continue to lead the Magento team as part of the Adobe’s Digital Experience business, and will report to Brad Rencher.