Adobe has made a bold move to ensure they meet their goal to deliver a single end-to-end digital experience platform by acquiring Magento Commerce. Magento is a platform for digital and physical goods, which provides companies with e-commerce and order orchestration capabilities. The cost of the acquisition was $1.68 billion according to Retail Insight. Magento Commerce is expected to integrate with the Adobe Experience Cloud.
“Across every industry, people aren’t just buying products, they’re buying experiences. Adobe is the leader in delivering end-to-end digital experiences and will further solidify its leadership position,” said Brad Rencher, Executive Vice President and General Manager of Adobe’s Digital Experience.
Besides its leading e-commerce platform, Magento is the most popular provider of B2B shopping solutions according to the Internet Retailer Top 1000, and for the B2B 300 and Top 500 Guides for Latin America and Europe. The company has a highly active global developer community, with more than 300,000 developers, and the largest eCommerce marketplace for downloading extensions (Magento Marketplace).
“As a part of Adobe, we see a tremendous business opportunity to power experience-driven commerce for brands and merchants of all sizes,” Magento’s CEO Mark Lavelle said to Business Wire. Lavelle will continue to lead the Magento Business under Adobe after the acquisition.