- By Mike
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Adobe Systems announced on Monday the acquisition of the e-commerce platform Magento Commerce to private equity firm Permira for $ 1.68 billion (€ 1.42 billion). Magento was bought by Permira from eBay in 2015. The action Adobe gained about 1% in electronic trading after the market after the announcement by the software publisher that he would also buy up to $ 8 billion of its shares by the end of the year fiscal year 2021. The transaction is expected to close in the third quarter of Adobe’s fiscal year 2018. This is the largest acquisition by Adobe since the acquisition of Omniture for $ 1.8 billion in 2009.
Magento and Adobe have Coca-Cola, Warner Music Group, Nestle and Cathay Pacific for joint customers. Adobe says the deal will help it grow its cloud business, including analytics, advertising and marketing.
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