Adobe to acquire Workfront to offer enhanced work management solutions

By Nikita Chaurasia  Date: 2020-11-11

Adobe to acquire Workfront to offer enhanced work management solutions

American multinational computer software company, Adobe Inc. has reportedly made an announcement of signing a definitive agreement to acquire Workfront, a leading work management platform for marketers. The acquisition will be worth USD 1.5 billion and will be subject to customary purchase price adjustments.

For those uninitiated, Workfront enables marketers to efficiently manage content, execute complex workflows, and plan & track marketing campaigns across teams. The company serves over 3,000 customers and one million users across the globe.

Meanwhile, Adobe provides solutions associated with creativity and customer experience management. These solutions play a role among marketers, analysts, creative artists, as well as for operations managers.

According to the reliable reports, the collaboration between Adobe Experience Cloud and Workfront will provide high efficiency and productivity to the marketing teams which are currently facing challenges working with siloed work management solutions.

Anil Chakravarthy, General Manager and Vice President at Digital Experience Business and Worldwide Field Operations at Adobe reportedly claimed that the company is an unchallenged leader in content management, creation, measurement and delivery while being a trusted partner to digital leaders worldwide.

He added that the combination of Workfront and Adobe will boost Adobe’s leadership in customer experience management, by offering a solution that covers the end-to-end life cycle digital experiences, beginning from ideation to activation.

Alex Shootman, CEO at Workfront, mentioned in a comment that Adobe and Workfront share a common goal of helping modern marketers to flourish in an ever-evolving, high demanding setting. He added that the company is looking forward to joining hands with Adobe.

As per the agreement, Shootman will continue to lead the team at Workfront while reporting to Anil Chakravarthy, sources confirmed. The deal should be finalized in the first quarter of 2021, until then, the two companies will continue to operate independently.

Source credits –

https://news.adobe.com/news/news-details/2020/Adobe-to-Acquire-Workfront/default.aspx

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Netflix confirms producing fictionalized version of Spotify’s ascension

Netflix confirms producing fictionalized version of Spotify’s ascension

By Nikita Chaurasia

Over-the-top content streaming & production giant Netflix Inc. is reportedly working on an untitled series that tells the story of one of the most successful music streaming companies, Spotify Ltd. The six-part series, already listed on Netflix,...

Edtech Byju’s is now India’s highest-valued startup at USD 16.5 billion

Edtech Byju’s is now India’s highest-valued startup at USD 16.5 billion

By Nikita Chaurasia

Byju’s, the largest education technology company, has emerged as India’s highest-valued startup after a USD 340 million funding round involving investors such as UBS Group, Blackstone, and Zoom founder Eric Yuan among others. Recently, B...

LiDAR maker Hesai Photonics secures USD 300 million in Series D funding

LiDAR maker Hesai Photonics secures USD 300 million in Series D funding

By Nikita Chaurasia

Hesai Photonics Technology Co. Ltd., a leading Shanghai-based LiDAR company, has reportedly secured USD 300 million in a Series D funding round which was led by GL Ventures LLC, Xiaomi Corporation, Hillhouse Capital Group, Meituan, and CPE. The roun...

Tesla terminates production of its Model S Plaid + variant indefinitely

Tesla terminates production of its Model S Plaid + variant indefinitely

By Nikita Chaurasia

CEO Elon Musk justified Model S Plaid as good enough against its successor. The Model S Plaid + was touted to be Tesla’s flagship vehicle, with a range of around 519 miles. After unveiling for the first time last year, American EV maker T...

ByHeart concludes largest U.S. clinical trial for infant food product

ByHeart concludes largest U.S. clinical trial for infant food product

By Nikita Chaurasia

ByHeart Inc., a New-York based infant, and baby nutrition company, has recently announced the completion of the largest clinical trial for new infant formula in the past 25 years. With this move, the company is earmarked to be the 4th FDA registered,...