Adobe has announced the purchase of the Magento e-commerce platform for $1.68 billion. The e-commerce CMS is used by many companies to manage their online sales sites, but also product promotion and returns. It is a complete e-commerce solution that would generate according to Bloomberg 155 billion gross volume of goods.
Adobe continues to diversify with this acquisition. The Photoshop editor now offers its design software, but also digital advertising solutions, Analytics, emailing, and customization through its Experience Cloud. This diversification puts Adobe in competition with players such as Oracle or Salesforce. It is likely that Adobe offers a complete solution by integrating Magento into its Experience Cloud. Few details are currently given on future directions for the platform. Historically Magento is a relatively open platform with a strong community dimension. Not sure that the Open Source version survives the redemption.
With the announcement of this acquisition, the title of Shopify main competitor of Magento lost 5.5% in the stock market.
Eli Washington is still early into his career as a marketing and tech reporter but has already had his worked published in many major publications including Gizmodo and Endgadget. In regards to academics, Eli earned a degree in business from the University of Southern California. Eli follows the money and covers all aspects of search and marketing here at The Marketing Folk.