Adobe has agreed to buy commerce platform Magento for USD 1.68 billion, so that it can integrate commerce into its Adobe Experience Cloud, delivering a single platform for both B2B and B2C customers. Adobe said consumers and businesses now expect every interaction to be “shoppable,” whether it be on the web, mobile, social, in-product or in-store. The Magento Platform will bring together digital commerce, order management and predictive intelligence into one unified commerce platform so that Adobe can enable shopping experiences across a wide array of industries, such as consumer packaged goods, retail, wholesale, manufacturing and the public sector.
Adobe will be acquiring Magento from Permira Funds, with a stake also coming from Hillhouse Capital. Permira bought Magento Commerce from eBay in 2015 and received an investment from Hillhouse Capital in 2017. The transaction is expected to close in Adobe’s fiscal third quarter, subject to the usual regulatory and closing conditions. When it does, Magento CEO Mark Lavelle will continue to lead the Magento team as part of Adobe’s Digital Experience business, reporting to GM Bran Rencher.
Magento customers include brands like Canon, Helly Hansen, Paul Smith and Rosetta Stone. Adobe and Magento share joint customers including Coca-Cola, Warner Music Group, Nestlé and Cathay Pacific.
