SAN JOSE (dpa-AFX) - Adobe (ADBE) Monday said it has agreed to buy Magento Commerce, a cloud commerce platform, for $1.68 billion.
Adobe says that the 'addition of the Magento Commerce Cloud will enable commerce to be seamlessly integrated into the Adobe Experience Cloud, delivering a single platform that serves both B2B and B2C customers globally.'
Magento brings Adobe Experience Cloud digital commerce enablement and order orchestration for both physical and digital goods across a range of industries, including consumer packaged goods, retail, wholesale, manufacturing and the public sector.
Current Magento customers include 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.'
Upon close, Magento CEO Mark Lavelle will continue to lead the Magento team as part of Adobe's Digital Experience business, reporting to executive vice president and general manager Brad Rencher.
The transaction is expected to close during the third quarter.
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