Adobe buys Magento e-commerce platform for $1.68 billion

 Adobe buys Magento e-commerce platform for $1.68 billion

Adobe has announced the acquisition of the Magento e-commerce platform for $1.68 billion. The e-commerce CMS is employed by many companies to manage their online sales sites, but also product promotion and returns. it's an entire e-commerce solution that might generate consistent with Bloomberg 155 billion gross volume of products.

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 like Oracle or Salesforce. it's likely that Adobe offers an entire solution by integrating Magento into its Experience Cloud. Few details are currently given on future directions for the platform. Historically Magento may be a relatively open platform with a robust community dimension. unsure that the Open Source version survives the redemption.

With the announcement of this acquisition, the title of Shopify's main competitor of Magento lost 5.5% within the stock exchange.

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