Adobe buys Magento company with office in Ukraine for $ 1.68 billion
Adobe buys Magento company with office in Ukraine for $ 1.68 billion
Adobe, on May 21, said it had reached a final purchase agreement for Magento Commerce, an online shopping management platform. The amount of the transaction will be $ 1.68 billion in view of the usual price adjustments. Note that Magento in Ukraine has a large development office - according to DOU, it has up to 200 employees in Kiev. Obviously, after closing the deal, they will become part of the Adobe team.
It is reported that the transaction will be closed within the third quarter of the 2018th fiscal year of Adobe. Prior to that, regulators must approve it, but for now both companies will continue to operate independently of each other.
What will happen to the team Magento after purchase, not reported. However, Adobe assured that current Magento CEO Mark Lavell will continue to lead the company's staff, which will become part of Adobe's business on digital experience. He will report directly to Adobe’s Vice President and General Manager, Digital Experience, Brad Rencher.
For Adobe Digital Cloud, Magento will become an e-commerce and ordering tool for the company's physical and digital products. As reported in the release, Cloud Magento Commerce will allow you to integrate commerce into the Adobe Experience Cloud, thereby providing a single platform that will serve b2b and b2c customers worldwide.
The Magento platform is built on a scalable technology that is supported by a community of more than 300,000 developers. The Magento Partner Ecosystem provides thousands of ready-made extensions, including payment, shipping, taxation and logistics. Magento customers include companies like Canon, Helly Hansen, Paul Smith, Rosetta Stone, Coca-Cola, Warner Music Group, Nestlé and others.
“Adobe is the only company with leadership in content creation, marketing, advertising, analytics, and currently in commerce, which allows you to go all the way in real time. Implementing commerce in the Adobe Experience Cloudwith Magento will allow Adobe to make every moment personal and every experience available for purchase, ”commented Brad Rencher on the upcoming deal.
Magento began with the startup Varien, founded in 2001, which, thanks to its product - platform for electronic stores Magento, has grown into a large company Magento Commerce. Today Magento has up to 500 employees worldwide. From 2011 to 2015, the company worked as part of eBay Corporation. Since November 2015, the British investment company Permira owns the company Magento Commerce.
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