Adobe to Buy Workfront for $1.5 Billion to Aid Collaboration

guest · Nov 9, 2020

Adobe acquires marketing workflow startup Workfront for $1.5B
Deal brings business collaboration tools to Photoshop maker
November 9, 2020
https://techcrunch.com/2020/11/09/adobe-acquires-marketing-workflow-startup-workfront-for-1-5b/

Adobe just announced that it is acquiring marketing workflow management startup Workfront for $1.5 billion. Bloomberg first reported the sale would be happening earlier today.

Workfront was founded back in 2001, making it a bit long in tooth for a private company that has raised $375 million, according to Crunchbase. (It’s worth noting that $280 million of that was secondary money raised last year.)
The acquisition gives Adobe more online marketing tooling to fit into its Experience Cloud. This one helps companies manage complex projects inside the marketing department (or elsewhere in the company for that matter).
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Workfront CEO Alex Shootman sees the deal as way to accelerate the roadmap while working with a much a large company. “We are barely scratching the surface of marketing and we could grow tremendously, just by having that great kind of integrated relationship…,” he said.

The deal is expected to close in the first quarter of Adobe’s fiscal year. Per usual, it will be subject to typical regulatory scrutiny.
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Workfront: Adobe to acquire Workfront: brings leading work management platform for marketers to Adobe Experience Cloud

The combination of Experience Cloud and Workfront will bring efficiency, collaboration, and productivity gains to marketing teams everywhere. Workfront’s platform is agile and uniquely architected for the enterprise, with extensive integration capabilities that can be easily configured to meet the varied needs of companies of all sizes.
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Adobe to Buy Workfront for $1.5 Billion to Aid Collaboration

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