Adobe has signed an agreement to acquire Magento, an e-commerce company that manages the development of one of the most used online software to create virtual stores. Adobe will pay $ 1.68 billion for the acquisition, which was initiated with the aim of stemming competition from other large and fast-growing companies in the industry such as Salesforce and Oracle. Adobe is best known for the production of graphics software such as Photoshop, but in recent years it has been differentiating its product offerings a lot.
For Adobe it is the third largest acquisition ever and thanks to Magento it will be able to offer new products to create e-commerce sites, advertising systems and other solutions for online economic transactions. Magento is estimated to be used by sites that put together produce around $ 155 billion a year in revenue. Once owned by eBay, Magento was sold in 2015 and has since been backed by a private fund of Permira Holdings.
