Adobe announced it 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 a solution marketers use to manage content, plan and track marketing campaigns, and execute complex workflows across teams.
The combination of Adobe Experience Cloud and Workfront will help bring efficiency, collaboration, and productivity gains to marketing teams and operations managers currently challenged with siloed work management solutions. Workfront has deep experience in orchestrating marketing workflows and has APIs that enable a seamless connection to Adobe Creative Cloud and Adobe Experience Cloud. Workfront’s platform is architected for the enterprise, with integration capabilities that can be configured to meet the varied needs of companies of all sizes. Adobe and Workfront are already partners with over 1,000 shared customers.
Workfront CEO Alex Shootman will continue to lead the Workfront team, reporting to Anil Chakravarthy, executive vice president and general manager, Digital Experience Business and Worldwide Field Operations. 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.