Adobe to Acquire ‘Workfront’, the Leading Work Management Platform for Marketers, for $1.5 Billion
Adobe just announced it has entered into a definitive agreement to acquire Workfront, the leading work management platform for marketers, for $1.5 billion, subject to customary purchase price adjustments. . With more than 3,000 customers and one million users, Workfront is the solution marketers rely on every day to efficiently manage content, plan and track marketing campaigns, and execute complex workflows across teams.
Adobe solutions are at the intersection of creativity and customer experience management and are essential for marketers, creatives, analysts and now operations managers. Adobe Creative Cloud provides the world’s best creative apps and services to everyone from students and social media influencers to professional photographers, filmmakers and designers.
Adobe Experience Cloud is the most comprehensive solution for content and commerce, customer journey management, and customer data and insights, all built on an open platform, enabling businesses of all sizes and in all industries to to deliver exceptional customer experiences at scale.
Meeting the growing expectations of B2B and B2C customers today requires large volumes of content and personalized marketing campaigns delivered at blazing speed and scale. This must be accomplished within increasingly dispersed teams as remote working becomes mainstream in today’s environment and the future of work is redefined. The combination of Adobe Experience Cloud and Workfront will bring efficiency, collaboration and productivity gains to marketing teams currently facing siled work management solutions.
Workfront has deep leadership in orchestrating marketing workflows. Workfront’s platform is agile and uniquely designed for the enterprise, with extensive integration capabilities that can be easily configured to meet the varied needs of businesses of all sizes.
Adobe and Workfront are long-standing partners with strong product synergies and a growing base of more than 1,000 joint customers. Workfront is equipped with APIs that enable seamless connection to Adobe Creative Cloud and Adobe Experience Cloud. Adobe and Workfront shared customers include Deloitte, Under Armour, Nordstrom, Prudential Financial, T-Mobile and The Home Depot.
Anil Chakravarthy, Executive Vice President and General Manager, Digital Experience Business and Worldwide Field Operations, Adobe: “Adobe is the undisputed leader in content creation, management, delivery and measurement and a trusted partner for digital leaders around the world. The combination of Adobe and Workfront will further accelerate the leadership of Adobe in customer experience management, delivering a pioneering solution that spans the full lifecycle of digital experiences, from ideation to activation.”
Alex Shootman, CEO, Workfront“Adobe and Workfront share a common affinity to help the modern marketer thrive in an ever-changing and increasingly demanding environment. We are excited to join Adobe and believe it will be a tremendous opportunity for our customers and partners. .”
At closing, Workfront CEO Alex Shootman will continue to lead the Workfront team, reporting to Anil Chakravarthy, Executive Vice President and General Manager, Digital Experience Business and Worldwide Field Operations.
The transaction, which is expected to close in Adobe’s first quarter of fiscal year 2021, is subject to regulatory approval and customary closing conditions. Until the closing of the transaction, each company will continue to operate independently.
Adobe worked with Workfront first, as shown in the video posted last month.
The promotional video below is from T-Mobile using the Workfront version from last December