Adobe has said it will buy workfront for $1.5 billion to add collaboration tools to its marketing software. Abobe expects the deal to close between December 2020 and February 2021. Workfront will contribute 3000 enterprise customers and 1 million users to adobe.
Adobe has been a pioneer in graphics and visual software for decades, but it has no collaboration tools. The acquisition also means that Adobe's experience cloud division, which oversees marketing, advertising and analytics software, will adjust its strategy. Adobe has been working hard to add collaboration capabilities to creative and enterprise applications so that employees can collaborate on projects.
Unlike other office collaboration tools, Workfront focus on marketers who manage content with software every day, develop tracking marketing campaigns, and perform complex workflows between teams. Marketers are also Adobe major customers, Adobe have integrated several products into Workfront products.
The data show that the acquisition Workfront is the fifth largest M & A transaction in Adobe history. When the acquisition is complete, Workfront CEO Alex Sotman (Alex Shootman) will continue to run the team and report to Adobe Executive Vice President.
Workfront was founded in 2001, and has raised $100million to date, and the company's revenue in 2018 is about $200million.