Adobe acquires Workfront, one of the largest collaborative tool platforms for marketing professionals, for $1.5 billion.
Adobe breaks its piggy bank. On Tuesday (November 10th), the U.S. publisher confirmed that it had signed a $1.5 billion agreement to acquire Workfront, revealed earlier by Bloomberg. Each company will continue to operate independently until the transaction is completed in the first quarter of 2021.
Alex Shootman, CEO of Workfront, will retain the reins of his company, led by Anil Chakravarthy, Executive Vice President and General Manager, Digital Experience Business and Worldwide Field Operations at
Adobe. The 960 employees will be integrated into the American giant’s teams. EnrichIng EXPERIENCE CLOUD AND CREATIVE CLOUD
Created in 2001, Workflow boasts more than 3,000 customers and one million users.
Its SaaS platform is dedicated to marketing teams to facilitate content management, planning and monitoring of marketing campaigns, and executing complex workflows between teams.
Workfront’s APIs connect with Adobe’s Experience Cloud, the customer path solution management solution, and Creative Cloud, Adobe’s suite dedicated to creative students and professionals – designers, influencers, photographers, and
directors. “Adobe solutions are at the crossroads of creativity and customer experience management and are essential to the mission of marketers, creatives, analysts, and now operations managers, “Adobe said in a statement.
The solution aims to provide the Experience Cloud offer with a collaborative software suite to simplify campaign management, characterized by large volumes of content and increased customization, all in remote work.
“The combination of Adobe Experience Cloud and Workfront will bring efficiency, collaboration, and productivity gains to marketing teams that are currently facing siloed work management solutions,” Adobe continues.
The two companies know each other
well. They have been partners for several years and have more than 1000 joint clients, including Deloitte, T-Mobile, Home Depot, Under Armour, Nordstrom, and Prudential Financial. According to Suresh Vittal, vice president of platform and product for Adobe Experience Cloud, as cited by Techcrunch, it was, as the Covid-19 pandemic progressed, “it made more sense to offer this tool internally that works well in a distributed environment.”