A New Chapter in Magento History: Adobe to Buy Magento Commerce for $1.68B
Yesterday, May 21, a bright orange news banner on Magento website shook the community with really big news: by the end of summer, Adobe will buy Magento.
According to the Adobe’s press release, the acquisition is scheduled for the third fiscal quarter of 2018. Taking into account that Adobe’s fiscal year starts December 2, 2017, the deal will conclude somewhere by the end of August 2018.
Structurally, Magento will become a part of Adobe Digital Experience. Its CEO, Mark Lavelle, will remain the head of Magento, a position that he has been working at for almost 3 years. He excitedly commented in the official Magento Commerce blog post “our future together with Adobe is unlimited”.
Adobe believes that the Magento platform will bring invaluable online shopping expertise to their Cloud Platform customers. And we will see whether the new acquisition is good news for the ecommerce crowd.
So far, the reactions of the Magento community range from enthusiasm to doom-and-gloom. Personally, we are very excited about what future brings. The acquisition will allow both Magento and Adobe work together and complement each other’s products, opening up new opportunities for online retailers.
Anyway, Aitoc will watch the situation very closely. Make ready for big changes and even more news as autumn comes!