Adobe revealed its plan to buy Magento Commerce from Permira, a private equity company, for 1.68 billion USD.
“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.”
The deal is intended to strengthen Adobe Experience Cloud, forming a single B2B and B2C global platform. Experience Cloud provides services including analytics, advertising and marketing.
Magento’s unified commerce platform brings together digital commerce, order management and predictive intelligence, for both physical and digital goods across industries. Its partner ecosystem provides thousands of pre-built extensions, including payment, shipping, tax and logistics. The platform helps merchants integrate digital and physical shopping experiences through Cloud-based omnichannel solutions.
In 2015, Magento was acquired by Permira from eBay, who had acquired it in 2011. A community of more than 300 000 developers support Magento Platform. Its reference clients include Canon, Helly Hansen, Paul Smith and Rosetta Stone. Adobe and Magento already share customers, notably Coca-Cola, Warner Music Group, Nestle and Cathay Pacific.
The transaction is expected to close in the third fiscal quarter.