Adobe has announced that has entered into a definitive agreement to acquire Magento Commerce for $1.68bn (£1.25bn). The eCommerce platform will be integrated into Adobe's Experience Cloud, enabling users to seamlessly add commerce tools into their websites and apps for both B2B and B2C customers.
Magento, which currently boasts customers including Canon, Helly Hansen, Paul Smith and Rosetta Stone, will continue to be led by CEO Mark Lavelle, who will report to Brad Rencher, executive vice president and general manager. Magento will become part of Adobe's Digital Experience Business following the acquisition, which is still subject to regulatory approval, but unlikely to hit any roadbumps.
"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," said Rencher. "Embedding commerce into the Adobe Experience Cloud with Magento enables Adobe to make every moment personal and every experience shoppable."
Magento's eCommerce platform provides Adobe with a ready-built platform for selling both physical and digital goods that is built on proven, scalable technology and supported by a community of more than 300,000 developers. The Magento partner ecosystem provides thousands of pre-built extensions, including payment, shipping, tax and logistics, and Magento and Adobe already share a number of joint customers, including Cathay Pacific, Warner Music Group, Coca-Cola and Nestlé.
"This marks the next step in our journey to drive innovation across every facet of commerce," said Mark Lavelle. "As content and commerce capabilities have become inextricably linked, commerce plays a more integral part of the consumer experience than ever before.
"With Magento's position as the world's most popular commerce platform and Adobe's leadership in designing and delivering great digital experiences, we will enable every business to create and deliver compelling real-time experiences, engage with customers across every touchpoint, and transact anywhere across the entire customer journey for both B2C and B2B."