• by Ray Schultz , May 22, 2018

Adobe will acquire Magento Commerce, the provider of an ecommerce platform, for $1.68 billion, the firm announced on Monday afternoon. Expected to close during the third quarter of Adobe’s fiscal year, the transaction is subject to purchase price adjustments and regulatory approval. 

Adobe will integrate the Magento Commerce Cloud into its  Experience Cloud. In addition, it will blend Magento’s capabilities in digital commerce, order management and predictive intelligence into its own product offering.

Magento CEO Mark Lavelle will continue to head the Magento team after the close as part of Adobe’s Digital Experience business, and will reporti to Brad Rencher, executive vice president and general manager.

Magento serves such customers as Canon, Helly Hansen, Paul Smith and Rosetta Stone. In addition, it shares joint customers with Adobe, including Coca-Cola, Warner Music Group, Nestlé and Cathay Pacific. 

According to Adobe, the Magento partner ecosystem provides thousands of pre-built extensions such as payment, shipping, tax and logistics.