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Adobe to buy marketing software firm for $1.5bn

SAN JOSE, USA, November 10, 2020

Photoshop maker Adobe said that it has entered into a definitive agreement to acquire Workfront, the leading work management platform for marketers, for $1.5 billion.

With more than 3,000 customers and one million users, Workfront is the solution for marketers to efficiently manage content, plan and track marketing campaigns, and execute complex workflows across teams.

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. – TradeArabia News Service




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