Monday, May 21, 2018

Magento Commerce Acquired By Adobe For $1.68 Billion

Culver City-based Magento Commerce, which develops e-commerce software, has been acquired by San Jose-based Adobe, in a deal worth $1.68 billion, the two said on Monday. According to the two, the Magneto Commerce Cloud will be integrated into Adobe's Experience Cloud platform. Adobe said Magento CEO Mark Lavelle will continue to lead Magento's team.

---