Technology firm Adobe has entered into a definitive agreement to acquire Magento Commerce, an e-commerce platform, for $1.68bn (£1.24bn).
According to the group the addition of the Magento Commerce Cloud will “enable commerce to be seamlessly integrated into the Adobe Experience Cloud, delivering a single platform that serves both B2B and B2C customers globally”.
The Magento platform brings together digital commerce, order management and predictive intelligence into a unified commerce platform, enabling shopping experiences across a wide variety of industries.
Once the transaction has been completed Magento CEO Mark Lavelle will continue to lead the team as part of Adobe’s Digital Experience business, reporting to executive vice president and general manager Brad Rencher.
Rencher, executive vice president and general manager at Adobe, said: “Adobe is the only company with leadership in content creation, marketing, advertising, analytics and now commerce – enabling real-time experiences across the entire customer journey.
“Embedding commerce into the Adobe Experience Cloud with Magento enables Adobe to make every moment personal and every experience shoppable.”
Lavelle added: “Adobe and Magento share a vision for the future of digital experiences that brings together Adobe’s strength in content and data with Magento’s open commerce innovation.
“We’re excited to join Adobe and believe this will be a great opportunity for our customers, partners and developer community.”