Today, Adobe announced that it has signed a deal that it will acquire the marketing software company Workfront, for 1.5 billion.
Adobe sells cloud-based software for designers and creatives. The company aims to integrate Workfront’s software with its Experience Cloud offering. Adobe’s Experience Cloud is used to manage customized analytics, advertising, marketing campaigns, content delivery, data, and client journeys.
Workfront is an ideal fit for Adobe’s Experience Cloud
The acquisition of Workfront by Adobe is seen as a great deal since the company specializes in software and application programming interfaces that marketers employ to manage content, plan and track marketing campaigns, and, most importantly, execute workflows across teams.
The key products of the Workfront include Fusion (an integration platform), Scenario Planner (a planning tool), and a strategy and planning platform known as Align.
In a blog post, Adobe Executive Vice President and General Manager Anil Chakravarthy wrote that he believes that Adobe’s marketing teams would benefit significantly in terms of collaboration and efficiency following the acquisition of the Workfront.
There is no doubt that this will lead to significant productivity gains.
He went on to state that the Workfront platform is responsive and uniquely tailored for the enterprise, with comprehensive integration capabilities easy to configure to meet the diverse needs of firms of all sizes.
Integrating the two platforms would be easy
Thanks to Workfront’s existing APIs, which allows its tools to be integrated into third-party platforms, Adobe’s integration will be seamless. Besides, the two companies have been partners for so long and share over 1,000 joint customers, including notable companies like Deloitte Touché Tohmatsu, Home Depot, and T- Mobile USA.
The deal is expected to close sometime during the 1st quarter of the company’s fiscal 2021. However, Workfront CEO Alex Shootman will continue leading the Workfront team while reporting directly to Chakravarthy.