Adobe to Acquire Frame.io
August 19 2021 - 4:05PM
Business Wire
Acquisition Brings Together Adobe Creative Cloud’s Leading
Video Capabilities with Frame.io’s Cloud-first Workflow
Functionality to Create End-to-End Video Collaboration
Platform
Adobe (Nasdaq:ADBE) today announced it has entered into a
definitive agreement to acquire Frame.io, a leading cloud-based
video collaboration platform. With over a million users across
media and entertainment companies, agencies, and global brands,
Frame.io streamlines the video production process by enabling video
editors and key project stakeholders to seamlessly collaborate
using cloud-first workflows. The combination of Adobe’s
industry-leading creative software, including Premiere Pro and
After Effects video editing products, and Frame.io’s review and
approval functionality, will deliver a collaboration platform that
powers the video editing process.
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Whether it's the latest binge-worthy streaming series, a social
media video that sparks a movement, or a corporate video that
connects thousands of remote workers, video creation and
consumption is experiencing tremendous growth. Video teams must
produce an ever-increasing volume of content, and each video
project requires various stakeholders, including video editors,
producers, agencies, and clients. Today’s video workflows are
disjointed with multiple tools and communication channels being
used to solicit stakeholder feedback. Frame.io eliminates the
inefficiencies of video workflows by enabling real-time footage
upload, access, and in-line stakeholder collaboration in a secure
and elegant experience across surfaces.
- Collaboration is the next wave of creativity: Digital
collaboration is now the foundation of all creative endeavors.
Adobe’s acquisition of Frame.io brings Adobe Creative Cloud’s
collaboration services to video and builds on recent innovations
for creative collaboration including Adobe Creative Cloud
Libraries, Cloud Documents, Design Systems in Adobe XD, Adobe
Stock, and Adobe Fonts, all of which together with Frame.io, will
make it easy for teams to collaborate across Adobe Premiere Pro,
Adobe Photoshop, Adobe Illustrator, and other Adobe Creative Cloud
applications.
- Video workflows must empower all stakeholders: With the
combination of Frame.io and Adobe, Creative Cloud customers, from
video editors, to producers, to marketers, will benefit from
seamless collaboration on video projects with Frame.io workflow
functionality built natively in Adobe Creative Cloud applications
like Adobe Premiere Pro, Adobe After Effects, and Adobe
Photoshop.
- Innovation benefits the video ecosystem: Frame.io
customers and partners will benefit from the company’s robust
plug-ins and third-party application support along with the
innovation generated by the combined Adobe Creative Cloud and
Frame.io teams. With the addition of Frame.io, Adobe Creative
Cloud’s commitment to enabling collaboration across all
stakeholders of creativity extends beyond Adobe’s applications to
the growing number of third-party applications across the creative
ecosystem.
“We’ve entered a new era of connected creativity that is deeply
collaborative, and we imagine a world where everyone can
participate in the creative process,” said Scott Belsky, Chief
Product Officer and Executive Vice President, Creative Cloud. “With
this acquisition, we’re welcoming an incredible customer-oriented
team and adding Frame.io’s cloud-native workflow capabilities to
make the creative process more collaborative, productive, and
efficient to further unleash creativity for all.”
“Frame.io and Adobe share a vision for the future of video
creation and collaboration that brings together Adobe’s strength in
video creation and production and Frame.io’s cloud-native
platform,” said Emery Wells, Frame.io co-founder and CEO. “We’re
excited to join Adobe to continue to drive video innovation for the
world’s leading media and entertainment companies, agencies, and
brands.”
Upon close, Frame.io co-founder and CEO Emery Wells and
co-founder John Traver will join Adobe. Wells will continue to lead
the Frame.io team, reporting to Scott Belsky. The transaction,
valued at $1.275 billion, subject to customary purchase price
adjustments, is expected to close during the fourth quarter of
Adobe’s 2021 fiscal year and 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 enhance Creative Cloud by
adding Frame.io’s cloud-native video collaboration capabilities and
other anticipated benefits of the transaction. Forward-looking
statements involve risks, including general risks associated with
Adobe’s and Frame.io’s businesses, 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 integrate Frame.io’s technology into
Adobe Creative Cloud and otherwise realize the anticipated benefits
of the transaction; the effectiveness of Frame.io’s technology;
potential benefits of the transaction to Adobe and Frame.io
customers; the ability of Adobe and Frame.io 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 Frame.io
Frame.io is one of the world’s leading video review and approval
platforms with over 1 million users. Integrated with most major
professional video tools, Frame.io streamlines the creative process
by centralizing assets and feedback in the cloud. This allows
remote creative teams to collaborate securely and in real time from
anywhere in the world.
Conceived and designed in 2015 by video creators Emery Wells and
John Traver, Frame.io is intuitive and simple, yet powerful enough
for creative professionals, technical administrators, and clients
to use with little (or no) training. Frame.io accelerates workflows
and eliminates obstacles to creativity. From script or storyboard
to dailies through delivery, Frame.io has reinvented the modern
video workflow.
To learn more please visit http://frame.io.
Watch: What is Frame.io?
About Adobe
Adobe is changing the world through digital experiences. For
more information, visit www.adobe.com.
© 2021 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/20210819005739/en/
Public relations contact Ashley Levine aslevine@adobe.com
Investor relations contact Jonathan Vaas ir@adobe.com
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