Adobe is to buy e-commerce platform provider Magento Commerce from private equity firm Permira for $1.68 billion.
Magento was acquired by Permira from eBay in 2015 and counts Canon, Helly Hansen, Paul Smith and Rosetta Stone among its clients. “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,” says Brad Rencher, Executive Vice President and General Manager, Digital Experience, Adobe. “Embedding commerce into the Adobe Experience Cloud with Magento enables us to make every moment personal and every experience shoppable.”
“We 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,” says Mark Lavelle, CEO, Magento, who will continue to lead the company as part of Adobe’s Digital Experience business. “We believe this will be a great opportunity for our customers, partners and developer community.”
Sign up for our free retail technology newsletter here.