Adobe has entered into a definitive agreement to acquire Magento Commerce, a provider of eCommerce software and solutions, for US$1.68 billion, subject to adjustments. The addition of the Magento Commerce Cloud will enable commerce to seamlessly integrate into the Adobe Experience Cloud, and delivers one platform that serves both B2B (business to business) and B2C (business to consumer) customers around the world, Adobe said in an announcement.
Magento brings digital commerce enablement and order orchestration to the Adobe Experience Cloud for both physical and digital goods across a range of industries, from consumer-packaged goods (CPG) to retail and manufacturing. Supported by a community of more than 300,000 developers, the Magento partner ecosystem provides thousands of pre-built extensions for functions such as payments, shipping, tax and logistics. Currently, Magento counts brands such as Canon, Helly Hansen, Paul Smith and Rosetta Stone as customers. In addition, Adobe and Magento share joint customers including Coca-Cola, Warner Music Group, Nestlé and Cathay Pacific.
Upon close, Magento CEO Mark Lavelle will continue to lead the Magento team as part of Adobe’s digital experience business, reporting to Rencher. The transaction, which is expected to close during the third quarter of Adobe’s 2018 fiscal year, is subject to regulatory approval and customary closing conditions. Until the close of the transaction, each company will continue to operate independently.
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