This is Adobes’ third biggest acquisition to date following the purchase of Omniture in 2009 and Macromedia in 2005. The move is in a bid to create an end-to-end system for designing digital ads, building e-commerce websites and completing transactions, the company revealed.
Magento offers the ability to build and maintain web stores, in addition to handling online purchases, shipping and returns. Further, it aids users in selling products through third parties such as social media ads and campaigns. Magento technology supports more than $155 billion in gross merchandise volume, and active customers include Canon Inc. and Rosetta Stone Inc to name a few. Find more about Magento here.
Adobe has sought to diversify from the digital media products that made its name, following todays deal and the purchase of Omniture in 2009. The Magento purchase would see the company battle cloud-based commerce services from competitor providers Salesforce, Oracle and SAP SE.
The deal for Magento is expected to close in the third quarter of Adobe’s financial year, pending regulatory approval. If successful, Adobe will gain full access to Magento’s corporate customers.