Adobe has entered into a definitive agreement to acquire Workfront, the work management platform for marketers, for $1.5 billion (subject to customary purchase price adjustments).
Adobe Experience Cloud, a solution for content and commerce, customer journey management, and customer data and insights along with Workfront is expected to bring efficiency, collaboration, and productivity gains to marketing teams currently challenged with siloed work management solutions.
According to the announcement, Workfront is equipped with APIs that enable a seamless connection to Adobe Creative Cloud and Adobe Experience Cloud. The two companies are longstanding partners with strong product synergies and a growing base of over 1,000 shared customers including Deloitte, Under Armour, Nordstrom, Prudential Financial, T-Mobile, and The Home Depot.
Speaking on the agreement, Alex Shootman, CEO, Workfront said – “Adobe and Workfront share a common affinity to help the modern marketer thrive in an ever-evolving, increasingly demanding setting. We’re excited to join Adobe and believe this will be a tremendous opportunity for our customers and partners.”
Upon close, Workfront CEO Alex Shootman will continue to lead the Workfront team, and will report to Anil Chakravarthy, Executive Vice President and General Manager, Digital Experience Business and Worldwide Field Operations, Adobe.
–AK
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.