Adobe suits up for e-commerce competition with its purchase of Magento
The $1.68 billion acquisition of the popular open source platform prepares Adobe for e-commerce battle with Salesforce, SAP, Oracle and others.
Adobe, which has been busy boosting its capabilities in advertising, content creation and analytics, has now added a major commerce component with the announcement Monday that it will buy Magento Commerce for $1.68 billion.
An open source platform with 300,00 developers, 800 technology partners and 350 integrated systems in its community, Magento provides order management, shipping and predictive intelligence, as well as online stores.
Small to medium-sized brands as well as enterprises like Canon, Rosetta Stone, Coca-Cola, Warner Music Group, Nestlé and Cathay Pacific employ Magento. Mark Lavelle, Magento CEO, will lead the effort within Adobe’s Digital Experience business. Magento’s software was first generally released in 2008. In 2011, it was purchased by eBay, but it went private again in 2015.