Adobe to Acquire Magento
A follow up press-release on the official Magento website confirmed the agreement, citing the following:
"With Adobe, we share a cultural focus on empowerment, creativity, extensibility, collaboration, contribution and inclusion. This is one of our greatest strengths that we will take forward to every interaction we have with our customers, partners and loyal community members."
Adobe have also been vocal on the acquisition with Brad Rencher (vice president) stating:
"Embedding commerce into the Adobe Experience Cloud with Magento enables Adobe to make every moment personal and every experience shoppable.”
When will the deal be completed?
Whilst the deal is still seeking regulatory approval, all things being well the acquisition should be finalised in Q3 2018.
Until then, both Magento and Adobe will continue to operate independently.
Magento's Acquisition History
However, this isn't the first time Magento has been acquired. Magento was founded in 2008 and acquired by eBay in 2011 for a reported $180 million.
Magento returned to being a private company again in 2015, when Permira private investments bought the company, for a rumoured $200 million.
You can learn more about the history of Magento here.