Bengaluru, NFAPost: As part of its effort to strengthen its service offerings, Adobe announced it has entered into a definitive agreement to acquire Workfront, a 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.
Satisfying the increasing expectations of B2B and B2C customers today requires large volumes of content and personalised marketing campaigns delivered at lightning speed and scale. This must be accomplished across increasingly dispersed teams, as remote work becomes prevalent 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 challenged with siloed work management solutions.
Adobe Executive Vice President and General Manager Digital Experience Business and Worldwide Field Operations Anil Chakravarthy said Adobe is the undisputed leader in content creation, management, delivery, and measurement and a trusted partner to digital leaders around the globe.
“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,” said Adobe Executive Vice President and General Manager Digital Experience Business and Worldwide Field Operations Anil Chakravarthy.
Workfront has deep leadership in orchestrating marketing workflows. 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.
Adobe and Workfront are longstanding partners with strong product synergies and a growing base of over 1,000 shared customers. Workfront is equipped with APIs that enable a seamless connection to Adobe Creative Cloud and Adobe Experience Cloud. Shared Adobe and Workfront customers include Deloitte, Under Armour, Nordstrom, Prudential Financial, T-Mobile, and The Home Depot.
Expressing happiness over the acquisition, Workfront CEO Alex Shootman said Adobe and Workfront share a common affinity to help the modern marketer thrive in an ever-evolving, increasingly demanding setting.
“We’re excited to join Adobe and believe this will be a tremendous opportunity for our customers and partners,” said Workfront CEO Alex Shootman.
Upon close, Workfront CEO Alex Shootman will continue to lead the Workfront team, reporting to Anil Chakravarthy. The transaction, which is expected to close during the first quarter of Adobe’s 2021 fiscal year, is subject to regulatory approval and customary closing conditions. Until the transaction closes, each company will continue to operate independently.