March 6, 2021
Hot Topics:

Adobe Buys Magento for $1.68 Billion

  • By Developer.com Staff

Adobe, the software company best known for Photoshop and its PDF reader, has announced that it will purchase e-commerce platform vendor Magento for $1.68 billion. Brad Rencher, Adobe’s executive vice president of digital experience, said that the acquisition gives Adobe a $13 billion revenue opportunity. Magento's customers include Canon, Rosetta Stone, Coca-Cola and Nestle.

The deal would see Magento Chief Executive Mark Lavelle remaining in his position as head of the e-commerce business, which would be folded into Adobe's digital experience business. The acquisition is likely to close in the third quarter.

Adobe's stock rose after news broke about the acquisition.

View article

This article was originally published on May 22, 2018

Enterprise Development Update

Don't miss an article. Subscribe to our newsletter below.

Thanks for your registration, follow us on our social networks to keep up-to-date