Adobe has acquired the company behind cloud-based video platform Frame.io in a deal valued at $1.275 billion.
Adobe said the acquisition will enable it to expand the potential of the cloud in video specific workflows by integrating the tools in Frame.io’s platform — which includes remote production, post, review and approval capabilities — with its own cloud-based software, including Premiere Pro and After Effects.
The cash deal is expected to during the fourth quarter of Adobe’s 2021 fiscal year and is subject to regulatory approval and customary closing conditions. Frame.io’s co-founder and CEO Emery Wells and co-founder John Traver will join Adobe. Wells will continue to lead the Frame.io team.
“We’ve entered a new era of connected creativity that is deeply collaborative, and we imagine a world where everyone can participate in the creative process,” said Scott Belsky, chief product officer and EVP, Creative Cloud. “With this acquisition, we’re welcoming an incredible customer-oriented team and adding Frame.io’s cloud-native workflow capabilities to make the creative process more collaborative, productive, and efficient to further unleash creativity for all.”
Emery Wells added: “Frame.io and Adobe share a vision for the future of video creation and collaboration that brings together Adobe’s strength in video creation and production and Frame.io’s cloud-native platform. We’re excited to join Adobe to continue to drive video innovation for the world’s leading media and entertainment companies, agencies, and brands.”