Adobe buys marketing software firm Workfront for $1.5B to boost Experience Cloud
The company, which sells cloud-based software for creatives and designers, said it plans to integrate Workfront’s software with its Experience Cloud offering, which is used to manage customized marketing campaigns, content delivery, analytics, data, advertising and customer journeys.
Workfront is seen as an ideal fit for Adobe’s Experience Cloud, since it sells software and application programming interfaces that are used by marketers to manage content, execute workflows across teams, and plan and track their marketing campaigns. Some of Workfront’s most popular products include a strategy and planning platform called Align, an integration platform called Fusion and a planning tool called Scenario Planner.
Workfront counts more than 3,000 enterprise customers and more than a million users in total.
Adobe Executive Vice President and General Manager Anil Chakravarthy said in a blog post that he believed marketing teams would gain significant efficiency, collaboration and productivity gains following the integration of the two platforms.
“Workfront’s platform is agile and uniquely architected for the enterprise, with extensive integration capabilities that can be easily configured to meet the varied needs of companies of all sizes,” he said.
The integration should be fairly seamless due to Workfront’s existing APIs, which enable its tools to be connected to third-party platforms, including Adobe’s, Chakravarthy said. The companies have also been long-term partners in any case, and share more than 1,000 joint customers, including firms such as T-Mobile USA Inc., Deloitte Touche Tohmatsu Ltd. and The Home Depot Inc.
“Adobe and Workfront share a common affinity to help the modern marketer thrive in an ever-evolving, increasingly demanding setting,” Workfront Chief Executive Alex Shootman said in a statement. “We’re excited to join Adobe and believe this will be a tremendous opportunity for our customers and partners.”
Adobe said the acquisition is expected to close sometime during the first quarter of its fiscal 2021, and that Shootman will continue to lead the Workfront team, reporting directly to Chakravarthy.
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