Computer software company Adobe has completed the acquisition of US-based platform, Magento Commerce, for $1.68bn.
Magento Platform offers digital commerce, order management and predictive intelligence services to improve shopping experiences.
As part of the deal announced in May, Magento Commerce Cloud will be integrated with Adobe Experience Cloud to offer a single, end-to-end digital experience platform for B2B and B2C customers globally.
Adobe digital experience executive vice-president and general manager Brad Rencher said: “Across every industry, people aren’t just buying products, they’re buying experiences.
“Adobe is the leader in delivering end-to-end digital experiences and with Magento Commerce, Adobe will further solidify its leadership position.”
Magento Commerce Cloud also provides digital commerce and order orchestration for physical and digital goods across various domains, including consumer packaged goods, retail and wholesale.
The platform also offers a wide assortment of pre-built extensions such as payment, shipping, tax and logistics enabling businesses to change their commerce experience based on the business needs.
Following the transaction, Magento CEO Mark Lavelle will lead the Magento Commerce Cloud business and will report to Brad Rencher.
Lavelle said: “Digital transformation starts with a creative spark or a specific business need and comes to life with best-in-class technology.
“As a part of Adobe, we see a tremendous business opportunity to power experience-driven commerce for brands and merchants of all sizes.”