Adobe acquires ecommerce CMS Magento for $1.68 billion
May22
Adobe has agreed to acquire Magento, a popular ecommerce CMS, presently owned by a private equity firm, for $1.68 billion. The deal will close in the third quarter of 2018. The Magento platform has long been regarded as a solid choice for companies who want to build and manage online stores; Bloomberg notes that it supports more than $155 billion in gross merchandise volume, and counts the likes of Canon, and Rosetta Stone among its customers. Adobe’s plan is to eventually combine Magento’s offerings with its own Experience Cloud, a suite of digital marketing services that include advertising and analytics…
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