Adobe on Monday stated that it has signed an acquisition deal to acquire marketing software firm Workfront for $1.5 billion. Adobe designs to combine Workfront’s capabilities with Experience Cloud, its platform concentrated on content delivery, data, analytics, marketing customization, commerce, advertising, and customer journeys.
Marketers use Workfront’s software and APIs to control and manage content, plan and track marketing campaigns, and perform workflows across teams.
Besides its core work management platform, Workfront’s products incorporate Align, a strategy, and planning platform, an integration platform; and the Workfront Summary Planner.
Adobe stated that the integration of Experience Cloud and Workfront will bring in the effectiveness, collaboration, and productivity gains to marketing teams.
As per the reports by Bloomberg, Workfront will be Adobe’s fifth-biggest acquisition.
Anil Chakravarthy, head of Adobe’s digital experience unit, stated
The integration of Adobe and Workfront will additionally boost Adobe’s leadership in client experience management, offering a pioneering solution that spans the whole lifecycle of digital expertise, from ideation to activation
Adobe stated that the marketing software firm Workfront has 3K clients and one million users, predominately in the company. Workfront and Adobe state they have almost 1,000 mutual clients, incorporating T-Mobile, Deloitte, Under Armour, Prudential Financial, Nordstrom, and The Home Depot.
Workfront CEO Alex Shootman will proceed to operate the Workfront team and will report to Chakravarthy when the acquisition is accomplished.
The company, previously recognized as AtTask, was established in 2001 by Scott Johnson, who is presently its chairman. Workfront stated in the previous year that it had generated $200 million in revenue in 2018.
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