Acquisition Brings Leading Work Management Platform for
Marketers to Adobe Experience Cloud
Adobe (Nasdaq:ADBE) today announced it has entered into a
definitive agreement to acquire Workfront, the leading work
management platform for marketers, for $1.5 billion, subject to
customary purchase price adjustments. With more than 3,000
customers and one million users, Workfront is the solution
marketers rely on every day to efficiently manage content, plan and
track marketing campaigns, and execute complex workflows across
teams.
Adobe solutions are at the nexus of creativity and customer
experience management and mission-critical to marketers, creatives,
analysts, and now, operations managers. Adobe Creative Cloud
provides the world’s best creative apps and services to everyone,
from students, to social media influencers, to professional
photographers, filmmakers, and designers. Adobe Experience Cloud is
the most comprehensive solution for content and commerce, customer
journey management, and customer data and insights, all built on an
open platform, enabling businesses of every size across every
industry to deliver exceptional customer experiences at scale.
Satisfying the increasing expectations of B2B and B2C customers
today requires large volumes of content and personalized marketing
campaigns delivered at lightning speed and scale. This must be
accomplished across increasingly dispersed teams, as remote work
becomes prevalent in today’s environment and the future of work is
redefined. The combination of Adobe Experience Cloud and Workfront
will bring efficiency, collaboration, and productivity gains to
marketing teams currently challenged with siloed work management
solutions.
Workfront has deep leadership in orchestrating marketing
workflows. Workfront’s platform is agile and uniquely architected
for the enterprise, with extensive integration capabilities that
can be easily configured to meet the varied needs of companies of
all sizes.
Adobe and Workfront are longstanding partners with strong
product synergies and a growing base of over 1,000 shared
customers. Workfront is equipped with APIs that enable a seamless
connection to Adobe Creative Cloud and Adobe Experience Cloud.
Shared Adobe and Workfront customers include Deloitte, Under
Armour, Nordstrom, Prudential Financial, T-Mobile, and The Home
Depot.
“Adobe is the undisputed leader in content creation, management,
delivery, and measurement and a trusted partner to digital leaders
around the globe,” said Anil Chakravarthy, executive vice president
and general manager, Digital Experience Business and Worldwide
Field Operations, Adobe. “The combination of Adobe and Workfront
will further accelerate Adobe’s leadership in customer experience
management, providing a pioneering solution that spans the entire
lifecycle of digital experiences, from ideation to activation.”
“Adobe and Workfront share a common affinity to help the modern
marketer thrive in an ever-evolving, increasingly demanding
setting,” said Alex Shootman, CEO, Workfront. “We’re excited to
join Adobe and believe this will be a tremendous opportunity for
our customers and partners.”
Upon close, Workfront CEO Alex Shootman will continue to lead
the Workfront team, reporting to Anil Chakravarthy, executive vice
president and general manager, Digital Experience Business and
Worldwide Field Operations.
The transaction, which is expected to close during the first
quarter of Adobe’s 2021 fiscal year, is subject to regulatory
approval and customary closing conditions. Until the transaction
closes, each company will continue to operate independently.
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 the combination of Adobe Experience
Cloud’s capabilities in content creation, management, delivery and
measurement, with Workfront’s work management products and other
anticipated benefits of the transaction. Forward-looking statements
involve risks, including general risks associated with Adobe’s and
Workfront’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 further integrate Workfront technology into
Adobe Experience Cloud; the effectiveness of Workfront technology;
potential benefits of the transaction to Adobe and Workfront
customers; the ability of Adobe and Workfront 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 Workfront
Workfront is the leader in enterprise work management, trusted
by more than 3,000 companies, one million users, and 10 out of 10
of the world’s top brands. Workfront was founded to help people,
teams, and companies do their best work. For more information,
visit www.workfront.com.
About Adobe
Adobe is changing the world through digital experiences. For
more information, visit www.adobe.com.
© 2020 Adobe. All rights reserved. Adobe and the Adobe logo are
either registered trademarks or trademarks of Adobe 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/20201109005957/en/
Public relations contact Ashley Levine Adobe
aslevine@adobe.com
Investor relations contact Jonathan Vaas Adobe ir@adobe.com
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