Wednesday, August 15News That Matters

Adobe to buy Magento Commerce for $1.7bn

Adobe, the maker of the popular Photoshop and Illustrator creative programmes, agreed to purchase Magento Commerce for $1.7bn on Monday.

The purchase of Magento, which provides ecommerce services for companies, adds to Adobe’s suite of offerings for the web.

“Embedding commerce into the Adobe Experience Cloud with Magento enables Adobe to make every moment personal and every experience shoppable,” said Brad Rencher, an executive vice-president with Adobe.

The deal is expected to close in the third quarter of 2018. Adobe announced it had also authorised a new $8bn share buyback programme on Monday.

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