adobe to acquire workfront for $1.5 billion

The Workfront acquisition will put Adobe in direct competition with popular project management tools Asana and Trello, though notably Workfront tools are aimed specifically at marketing teams. In 2018 Adobe acquired both Magento and Marketo for $1.6 billion and $4.75 billion respectively. Adobe has demonstrated clear intent to dominate the marketing automation space despite direct competition from Salesforce, SAP, and Oracle. The two companies already integrate together and share approximately 700 customers, part of the reason for the acquisition. Workfront has over 3,000 customers and one million users, including household names like T-Mobile, Home Depot, Deloitte, Cisco, and ADP payroll services. The COVID-19 pandemic likely catalyzed the acquisition when it drove virtually every office into remote work.

Tasks that might have historically been managed face to face, like proposals, approvals, and scheduling, are all managed in Workfront’s software. The company offers marketing management software for teams to collaborate and automate marketing efforts. Onward and upward!”įounded as AtTask in 2001, Workfront isn’t exactly a young startup.

Workfront founder and Chairman of the Board Scott Johnson had this to say of the acquisition: “I’m thrilled to end this chapter in Workfront’s history in a way that is a win for everyone the amazing team who built and continues to build great software, the customers who will get even more leverage in their creative work, and the investors who have been great long-haul partners. The deal is expected to finalize in the beginning of 2021 assuming no problems with regulatory scrutiny. Adobe announced Monday its intent to acquire Lehi-based Workfront for $1.5 billion.

Adobe to acquire workfront for $1.5 billion