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| Adobe Acquires E-commerce Player Magento Commerce for USD 1.68B! |
The acquisition of Magento Commerce marks Adobe’s biggest deal in almost a decade, and as an effect, its stock price increases around one (1) percent.
However, Magento CEO Mark Lavelle will still lead the Magento team, which will be part of Adobe’s Digital Experience business.
Through this, Magento Commerce Cloud will allow commerce to be connected into the Adobe Experience Cloud – provider of analytics, advertising, and marketing services. But aside from integrating Magento’s offerings to the Experience Cloud, Adobe’s future plans are yet to be disclosed. The company assures that it will give more details when the acquisition is complete, though.
Meanwhile, current Magento customers include Canon, Helly Hansen, Paul Smith, and Rosetta Stone, while Adobe and Magento share joint customers including Coca-Cola, Warner Music Group, Nestle, and Cathay Pacific. Moreover, Magento has an active community of more than 300,00 developers contributing to the platform.
“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 transaction is exected to close in Q3 2018, while it is subject to regulatory approval and customary closing conditions. Each company, on the other hand, will work independently until the deal closes.
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