Adobe Systems has recently confirmed that they have purchased the eCommerce software platform Magento. Magento is one of the best known eCommerce platforms, and is used by thousands of marketers around the world to build their online stores and other revenue generating systems. It has been a very popular option for a long time, and has a very loyal following.
In its largest acquisition in almost a decade, Adobe will be paying $1.68 billion for the platform. This move will help Adobe to boost their cloud platform as well as many existing products and services that they offer. This acquisition also pushes Adobe forward in terms of web platform services. They already offer marketing content and other related services, so this purchase fits in nicely with their overall portfolio.
Brad Rencher, Executive Vice President and General Manager of Digital Experience at Adobe, said, “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.” He went on to say, “Embedding commerce into the Adobe Experience Cloud with Magento enables Adobe to make every moment personal and every experience shoppable.”
Assuming there are no regulatory issues (which aren’t expected), and everything goes smoothly, the deal will be completed during the third quarter of Adobe’s fiscal year. The Magento CEO, Mark Lavelle, will retain his position over Magento as part of Adobe’s Digital Experience business. Both companies will continue operating separately until the acquisition is completed.