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, 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 [email protected].
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.
Adobe
Public Relations Contact
Dan Berthiaume, 408-536-2584
[email protected]
or
Investor Relations Contact
Mike Saviage, 408-536-4416
[email protected]