Adobe to Acquire for $1.275B

(Image credit: Adobe)

SAN JOSE, Calif.—Adobe has entered into a definitive agreement to acquire, a cloud-based video collaboration platform with over a million users at media and entertainment companies, agencies, and global brands, 

Adobe values the deal at about $1.275B and expects the deal to close during the fourth quarter of Adobe’s 2021 fiscal year. 

The acquisition comes at a time when producers are rapidly embracing cloud-based video production workflows and would allow Adobe to offer an improved end-to-end video collaboration platform. 

“We’ve entered a new era of connected creativity that is deeply collaborative, and we imagine a world where everyone can participate in the creative process,” said Scott Belsky, chief product officer and executive vice president, Creative Cloud. “With this acquisition, we’re welcoming an incredible customer-oriented team and adding’s cloud-native workflow capabilities to make the creative process more collaborative, productive, and efficient to further unleash creativity for all.”

Adobe’s acquisition of builds on recent innovations for creative collaboration including Adobe Creative Cloud Libraries, Cloud Documents, Design Systems in Adobe XD, Adobe Stock, and Adobe Fonts, Adobe explained. 

Those improvements, combined with's technologies, will make it easy for teams to collaborate across Adobe Premiere Pro, Adobe Photoshop, Adobe Illustrator, and other Adobe Creative Cloud applications, Adobe said. 

“ and Adobe share a vision for the future of video creation and collaboration that brings together Adobe’s strength in video creation and production and’s cloud-native platform,” said Emery Wells, co-founder and CEO. “We’re excited to join Adobe to continue to drive video innovation for the world’s leading media and entertainment companies, agencies, and brands.”

When the deal closes, co-founder and CEO Emery Wells and co-founder John Traver will join Adobe. Wells will continue to lead the team, reporting to Scott Belsky. Until the transaction closes, each company will continue to operate independently.

George Winslow

George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.