Information Technology

Adobe To Buy In $1.27 Billion Deal

Adobe To Buy In $1.27 Billion Deal

Adobe Inc said on Thursday it would buy, a cloud-based video collaboration platform, in a $1.27 billion deal. streamlines the video production process by enabling video editors and key project stakeholders to collaborate using cloud-first workflows.

Adobe said has more than a million users across media and entertainment companies, agencies, and global brands.

“The acquisition brings together Adobe creative cloud’s leading video capabilities with’s cloud-first workflow functionality to create an end-to-end video collaboration platform,” the company said.

The deal is expected to close in the fourth quarter. After the deal closes, co-founder and Chief Executive Emery Wells and co-founder John Traver will join Adobe.

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