Monday, May 21, 2018

Adobe Buys Magento Commerce For $1.68 Billion

San Jose-based Adobe said on Monday that it has acquired Magento Commerce, a developer of e-commerce software, for $1.68 billion, the two said on Monday. According to the two, the Magneto Commerce Cloud will be integrated into Adobe's Experience Cloud platform. Adobe said Magento CEO Mark Lavelle will continue to lead Magento's team. Magento was based in Culver City, California.