Adobe acquires Workfront for $ 1.5 billion, acquires marketing management expertise
Marketing and creativity technology provider Adobe on Monday announced plans to acquire Workfront, a developer of a work management platform for the marketing community.
Acquisition, valued by Adobe at $ 1.5 billion, aims to bring Workfront technology to help marketers manage content, plan and track marketing campaigns, and run workflows on Adobe Experience Cloud, Adobe said.
Adobe Experience Cloud is an AI-powered platform for marketing, analytics, advertising, and commerce technologies. It provides tools to help manage, deliver and optimize marketing experiences; Connect all advertisements into one offer for media buying, unleash in-depth insights from marketing data; and develop a seamless shopping experience with multiple suppliers.
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Workfront, based in Lehi, Utah, provides a unique platform to help businesses design new products, drive technology transformation, or create global marketing campaigns. The platform can be reconfigured as needed to support any team, region, project or program in a company.
Adobe and Workfront are no strangers to each other. The two have more than 1,000 common customers who use APIs in Workfront offerings to take advantage of seamless connections to Adobe Creative Cloud and Adobe Experience Cloud.
The acquisition is expected to be completed in Adobe’s first quarter of fiscal 2021, which begins around December 1.
Workfront CEO Alex Shootman is expected to continue leading the Workfront team, reporting to Anil Chakravarthy, executive vice president and general manager of Adobe’s digital experience business and field operations in the world.
Adobe has not responded to a request from CRN for more information at press time.
However, in a prepared statement, Chakravarthy called Adobe a leader in creating, managing, delivering and measuring content for digital leaders around the world.
âThe combination of Adobe and Workfront will further accelerate Adobe’s leadership in customer experience management, providing a pioneering solution that spans the entire digital experience lifecycle, from ideation to design. activation, âhe said in this press release.