Adobe 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 used by solution marketers to efficiently manage content, plan and track marketing campaigns, and execute complex workflows across teams.
Commenting on the acquistion, Adobe said that satisfying the increasing expectations of B2B and B2C customers today requires large volumes of content and personalized 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. It is expected that 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.
According to Adobe, Workfront has experience in orchestrating marketing workflows and its platform is agile and uniquely architected for the enterprise, with extensive integration capabilities that can be 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 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.
“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," aid Anil Chakravarthy, executive vice president and general manager, Digital Experience Business and Worldwide Field Operations, Adobe.
“Adobe and Workfront share a common affinity to help the modern marketer thrive in an ever-evolving, increasingly demanding setting,” added Alex Shootman, CEO, Workfront. “We’re excited to join Adobe and believe this will be a tremendous opportunity for our customers and partners.”
Upon close, Shootman will continue to lead the Workfront team, reporting to Chakravarthy.
The transaction is expected to close during the first quarter of Adobe’s 2021 fiscal year. Until the transaction closes, each company will continue to operate independently.
For more information, go to www.workfront.com and www.adobe.com.