Adobe buys marketing workflow startup Workfront for $1.5 billion

The takeover will bring better collaboration and productivity tools to Adobe Experience Cloud

Adobe sign on a wall at its German offices

Adobe has announced its intent to acquire Workfront for $1.5 billion (£1.1 billion) as it looks to add collaboration tools to its marketing business. 

The deal is expected to close during the first quarter of Adobe’s 2021 fiscal year, subject to regulatory approval, Adobe said

Utah-based Workfront develops project management software for enterprise customers. It will add some 3,000 corporate customers and around one million users to Adobe, with Bloomberg suggesting the takeover could potentially be completed within a week. 

Whenever the deal goes through, it will be the first major action by executive vice president Anil Chakravarthy, who joined Adobe in January.

“Adobe is the undisputed leader in content creation, management, delivery, and measurement and a trusted partner to digital leaders around the globe,” said Chakravarthy. 

“The combination of Adobe and Workfront will further accelerate Adobe’s leadership in customer experience management, providing a pioneering solution that spans the entire lifecycle of digital experiences, from ideation to activation.”

The deal is seen as Adobe's biggest effort to boost its Experience Cloud division, which includes its marketing, advertising and analytics services. The idea is to make its creative and business applications more collaborative, enabling teams to work closer on projects as they continue to operate remotely

Workfront has seen growing interest in its services during the pandemic as marketing firms have sought more insight into their operations. The company's CEO, Alex Shootman, called the Adobe takeover an "awesome outcome".

"When you have an opportunity to work with the company that CMOs rely on to run their business, which is Adobe, and you're a company like Workfront, that takes us forward years in terms of what we would have been able to accomplish on our own," he said.

Featured Resources

How to be an MSP: Seven steps to success

Building your business from the ground up

Download now

The smart buyer’s guide to flash

Find out whether flash storage is right for your business

Download now

How MSPs build outperforming sales teams

The definitive guide to sales

Download now

The business guide to ransomware

Everything you need to know to keep your company afloat

Download now

Most Popular

KPMG offers staff 'four-day fortnight' in hybrid work plans
flexible working

KPMG offers staff 'four-day fortnight' in hybrid work plans

6 May 2021
16 ways to speed up your laptop
Laptops

16 ways to speed up your laptop

29 Apr 2021
How to move Windows 10 from your old hard drive to SSD
operating systems

How to move Windows 10 from your old hard drive to SSD

30 Apr 2021