Workfront will be Adobe’s fifth-biggest acquisition, according to data compiled by Bloomberg. Marketers are also major clients for Adobe, which already integrates several of its products with Workfront’s offering. and Atlassian Inc., which owns Trello, Workfront is focused on marketers, who use the software every day to “manage content, plan and track marketing campaigns and execute complex workflows across teams,” Adobe said in the statement. Unlike other makers of work productivity tools, including Asana Inc.
Adobe has curtailed some of its advertising services that had a low profit margin and said it had a new strategy of catering to customers that use multiple Experience Cloud tools.
During the Covid-19 pandemic, businesses have found it essential to have better communication among colleagues working remotely. The company has sought to make its creative and business applications more collaborative, so that teams can more easily work together on projects. The company’s shares, which have climbed 43% this year, declined 4.8% to $471.14 at the close in New York.Īfter recent stumbles, the acquisition is Adobe’s biggest effort to reorient its Experience Cloud division, which includes marketing, advertising and analytics software, toward areas that are growing. Bloomberg earlier reported that the acquisition could come as soon as Monday.Īdobe has been a leader in the graphics and visual software industry for decades, but hasn’t offered collaboration tools.
Workfront, based in Lehi, Utah, will take its 3,000 corporate customers and 1 million users to the software maker best known for Photoshop. The deal is expected to close sometime from December to February 2021, San Jose, California-based Adobe said Monday in a statement. for $1.5 billion to add a collaboration tool to its marketing software, providing expanded offerings during a pandemic that has forced companies to maintain productivity while employees work from home.
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