Design and Tech giant Adobe Systems Inc. acquired e-commerce system provider Magento Ecommerce for $1.68 Billion. This marks a big move for Adobe, making their first acquisition in almost 10 years; driving their stock prices up by 1%.
The purchase of Magento Ecommerce signifies Adobe’s plans to further expand its Experience Cloud services, building upon its services in advertising, marketing and analytics.
Adobe released the following statement in a press release:
“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…”
Magento is the platform of choice for leading e-commerce brands around the world (such as Coca Cola and Canon) and is the leading paid CMS with 9% market share across the world in 2017 according to Buitwith.
Adobe’s future plans for Experience Cloud are unclear at this point. The company plans to reveal more details once the acquisition is complete after its official close at the end of Q3 2018.
This marks an exciting opportunity for Whitehat Agency as a Abode Partner; we’re excited to add Magento Ecommerce to our suite of partnerships with industry leading platforms.
Want to use Magento for your e-commerce site? Get in touch with Whitehat Agency today!