Adobe has announced its plans to acquire Magento Commerce Cloud for $1.68bn, in an effort to boost their Adobe Experience Cloud offering. Magento Commerce Cloud will thus be integrated into the Adobe Experience Cloud, making it a single platform that will serve both B2B and B2C brands.
The newly acquired platform will bring together digital commerce, order management plus predictive intelligence to help brands improve service levels and better compete in an era when the rise of e-commerce presents challenges to existing retail experience offerings, TheDrum reports.
The Magento Platform is supported by a community of more than 300,000 developers, endowing it with thousands of pre-built extensions, including payment, shipping, tax and logistics. Existing clients include Canon, Helly Hansen, Paul Smith, with both Adobe and Magento currently sharing clients such as Coca-Cola, Warner Music Group, Nestlé plus Cathay Pacific.
The deal should be completed in the third quarter of 2018, pending regulatory approval.
