Adobe to Acquire Magento Commerce
May 21 2018 - 4:05PM
Business Wire
Acquisition Brings Leading Commerce Platform to Adobe
Experience Cloud
Adobe (Nasdaq:ADBE) today announced it has entered into a
definitive agreement to acquire Magento Commerce, a market-leading
commerce platform, for $1.68 billion, subject to customary purchase
price adjustments. The addition of the Magento Commerce Cloud will
enable commerce to be seamlessly integrated into the Adobe
Experience Cloud, delivering a single platform that serves both B2B
and B2C customers globally. The Magento Platform brings together
digital commerce, order management and predictive intelligence into
a unified commerce platform enabling shopping experiences across a
wide array of industries.
Adobe is the leader in designing and delivering digital
experiences through content and data. At the core of every great
experience are content and data, which enable the consistent,
personal, intuitive experiences consumers have come to expect.
Commerce is also integral to the customer experience. Consumers and
businesses now expect every interaction to be shoppable – whether
on the web, mobile, social, in-product or in-store.
Magento brings Adobe Experience Cloud digital commerce
enablement and order orchestration for both physical and digital
goods across a range of industries, including consumer packaged
goods, retail, wholesale, manufacturing and the public sector. The
Magento Platform is built on proven, scalable technology supported
by a vibrant community of more than 300,000 developers. The Magento
partner ecosystem provides thousands of pre-built extensions,
including payment, shipping, tax and logistics. This level of
flexibility gives businesses the ability to quickly ramp and
iterate their commerce capabilities for their unique business
needs.
Current 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.
“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
Brad Rencher, executive vice president and general manager, Digital
Experience, Adobe. “Embedding commerce into the Adobe Experience
Cloud with Magento enables Adobe to make every moment personal and
every experience shoppable.”
“Adobe and Magento share a vision for the future of digital
experiences that brings together Adobe’s strength in content and
data with Magento’s open commerce innovation,” said Mark Lavelle,
CEO, Magento. “We’re excited to join Adobe and believe this will be
a great opportunity for our customers, partners and developer
community.”
Upon close, Magento CEO Mark Lavelle will continue to lead the
Magento team as part of Adobe’s Digital Experience business,
reporting to executive vice president and general manager Brad
Rencher.
The transaction, which is expected to close during the third
quarter of Adobe’s 2018 fiscal year, is subject to regulatory
approval and customary closing conditions. Until the transaction
closes, each company will continue to operate independently.
Conference Call Scheduled for 2:00 p.m. PDT Today
Adobe executives will comment on the acquisition of Magento
today during a live conference call, which is scheduled to begin at
2:00 p.m. PDT. Analysts, investors, press and other interested
parties can participate in the call by dialing 877-376-9431 and
using passcode 9448279. International callers should dial
402-875-4755. The call will last approximately 30 minutes and an
audio archive of the call will be made available later in the day.
Questions related to accessing the conference call can be directed
to Adobe Investor Relations by calling 408-536-4416 or sending an
email to ir@adobe.com.
Forward-Looking Statements Disclosure
This press release includes forward-looking statements within
the meaning of applicable securities law. All statements, other
than statements of historical fact, are statements that could be
deemed forward-looking statements. Forward-looking statements
relate to future events and future performance and reflect Adobe’s
expectations regarding the ability to extend its leadership in the
experience business through expansion of its commerce platform and
other anticipated benefits of the transaction with Magento. Forward
looking statements involve risks, including general risks
associated with Adobe’s and Magento’s business, uncertainties and
other factors that may cause actual results to differ materially
from those referred to in the forward-looking statements. Factors
that could cause or contribute to such differences include, but are
not limited to: Adobe’s ability to embed Magento technology into
Adobe Experience Cloud; the effectiveness of Magento technology;
potential benefits of the transaction to Adobe and Magento
customers, the ability of Adobe and Magento to close the announced
transaction; the possibility that the closing of the transaction
may be delayed; and any statements of assumptions underlying any of
the foregoing. The reader is cautioned not to rely on these
forward-looking statements. All forward-looking statements are
based on information currently available to Adobe and are qualified
in their entirety by this cautionary statement. For a discussion of
these and other risks and uncertainties, individuals should refer
to Adobe’s SEC filings. Adobe does not assume any obligation to
update any such forward-looking statements or other statements
included in this press release.
About Magento Commerce
Magento Commerce is a leading provider of cloud commerce
innovation to merchants and brands across B2C and B2B industries.
In addition to its flagship digital commerce platform, Magento
Commerce boasts a strong portfolio of cloud-based omnichannel
solutions that empower merchants to successfully integrate digital
and physical shopping experiences. Magento Commerce is the #1
provider to the Internet Retailer Top 1000, the B2B 300 and the Top
500 Guides for Europe and Latin America. Magento Commerce is
supported by a vast global network of solution and technology
partners, a highly active global developer community and the
largest eCommerce marketplace for extensions available for download
on the Magento Marketplace. More information can be found at
www.magento.com.
About Adobe
Adobe is changing the world through digital experiences. For
more information, visit www.adobe.com
© 2018 Adobe Systems Incorporated. All rights reserved. Adobe
and the Adobe logo are either registered trademarks or trademarks
of Adobe Systems Incorporated in the United States and/or other
countries. All other trademarks are the property of their
respective owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20180521005997/en/
AdobePublic Relations ContactDan Berthiaume,
408-536-2584dberthia@adobe.comorInvestor Relations
ContactMike Saviage, 408-536-4416ir@adobe.com
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