Adobe announced today that the company is acquiring Magento Commerce, a global leader in cloud commerce innovation, for $1.68 billion.
Magento offers businesses flexible, scalable eCommerce solutions designed to help them grow and succeed online.
Boasting a strong portfolio of cloud-based omnichannel solutions, integrating digital and physical shopping experiences and powering $155 billion in gross merchandise, the global leader will enable Adobe to offer its customers a high-standard digital commerce experience.
Brad Rencher, executive vice president and general manager, Digital Experience, Adobe said:
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.
Embedding commerce into the Adobe Experience Cloud with Magento enables Adobe to make every moment personal and every experience shoppable.
According to the press release shared by Adobe, Magento CEO Mark Lavelle will continue to lead the Magento team as part of Adobe’s Digital Experience business. He will also be reporting to the executive vice president and general manager Brad Rencher.
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. We’re excited to join Adobe and believe this will be a great opportunity for our customers, partners and developer community.
He also shared on Magento’s website that this acquisition is a tremendous opportunity for them to offer even greater value to customers, partners and developers across their commerce investment and tap Adobe’s global operational scale to accelerate their penetration into new verticals and geopraphies.