Adobe buys Magento for $1.7bn

Adobe has revealed its acquisition of Magento Commerce for $1.68 billion.

The technology provider said the addition of Magento Commerce Cloud will be “seamlessly integrated” into the Adobe Experience Cloud to create a single platform for B2B and B2C customers around the world.

Magento will give Adobe access to digital commerce and order management tools which will see the vendor offer an online shopping platform for its retail customers, which includes brands like Canon, Helly Hansen, Paul Smith and Rosetta Stone. Adobe and Magento share joint customers including Coca-Cola, Warner Music Group, Nestlé and Cathay Pacific.

“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.”

Mark Lavelle, CEO, Magento, added: “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.”

Adobe has followed in the footsteps of other incumbent technology suppliers who have realised the need to add commerce to their portfolio of products. Back in 2016, Salesforce coughed up a whopping $2.8 billion for Demandware, while Oracle bought NetSuite a month later for $9.3 billion.