Adobe has announced it is to acquire Magento Commerce for $1.68 billion. The addition of the Magento Commerce Cloud will mean the platforms can be integrated into the Adobe Experience Cloud, creating a single transactional platform to serve B2B and B2C customers alike. The acquisition will see Adobe and Magento combine forces to increase their prominence and strength in the market.
It's big news for Magento; the company will strive to combine Adobe’s leadership in designing and delivering cutting-edge digital experiences to engage with more customers than ever before, and transact anywhere across the entire customer journey.
'The Magento ecosystem... has a proven scalability supported by a community of more than 300,000 developers'
Magento will bring to the table digital commerce enablement and order orchestration across a range of industries to integrate directly with Adobe Experience Cloud. The Magento ecosystem also provides thousands of pre-built extensions, including payment, shipping, tax and logistics, and has a proven scalability supported by a community of more than 300,000 developers.
“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,” said Brad Rencher, executive vice president and general manager, Digital Experience, Adobe. “Embedding commerce into the Adobe Experience Cloud with Magento enables Adobe to make every moment personal and every experience shoppable.”
“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”
Adobe's purchase for $1.7 billion sees a large increase in value. Magento was founded in 2008 and was purchased by eBay in 2011 for a reported $180 million, before going private again in 2015 with help from Permira Funds.
The transaction is expected to close during the third quarter of Adobe’s 2018 fiscal year, and each company will continue to operate independently until then. Magento CEO Mark Lavelle will continue to lead the Magento team, reporting to executive vice president and general manager Brad Rencher.
Read the full press release at News.Adobe.com.
Read Mark Lavelle's announcement on the Magento Blog.