- Adobe (Nasdaq: ADBE) recently announced it is buying Frame.io for $1.275 billion. These are the details about the deal.
Earlier this week, Adobe (Nasdaq: ADBE) announced it entered into a definitive agreement to buy Frame.io, a leading cloud-based video collaboration platform. And with over a million users across media and entertainment companies, agencies, and global brands, Frame.io streamlines the video production process by enabling video editors and project stakeholders to seamlessly collaborate using cloud-first workflows.
The combination of Adobe’s creative software, like Premiere Pro and After Effects video editing products along with Frame.io’s review and approval functionality is expected to deliver a collaboration platform that powers the video editing process.
Video creation and consumption are experiencing rapid growth. And video teams must produce an ever-increasing volume of content and each video project requires various stakeholders, including video editors, producers, agencies, and clients. As video workflows are disjointed with multiple tools and communication channels being used to solicit stakeholder feedback, Frame.io eliminates inefficiencies of video workflows by enabling real-time footage upload, access, and in-line stakeholder collaboration in a secure and elegant experience across surfaces.
Collaboration is known for being the next wave of creativity. And digital collaboration is now the foundation of all creative endeavors. Adobe’s acquisition of Frame.io combines Adobe Creative Cloud’s collaboration services to video and builds on recent innovations for creative collaboration like Adobe Creative Cloud Libraries, Cloud Documents, Design Systems in Adobe XD, Adobe Stock, and Adobe Fonts – all of which together with Frame.io – is going to make it easy for teams to collaborate across Adobe Premiere Pro, Adobe Photoshop, Adobe Illustrator, and other Adobe Creative Cloud applications.
Frame.io customers and partners are expected to benefit from the company’s robust plug-ins and third-party application support along with the innovation generated by the combined Adobe Creative Cloud and Frame.io teams. And with the addition of Frame.io, Adobe Creative Cloud’s commitment to enabling collaboration across all stakeholders of creativity extends beyond Adobe’s applications to the growing number of third-party applications across the creative ecosystem.
Upon the closing of the deal, Frame.io co-founder and CEO Emery Wells and co-founder John Traver will join Adobe. And Wells will continue to lead the Frame.io team, reporting to Scott Belsky.
The deal, valued at $1.275 billion, subject to customary purchase price adjustments, is expected to close during Q4 of Adobe’s 2021 fiscal year. Until the deal closes, each company will continue to operate independently.
KEY QUOTES:
“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. 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.”
– Scott Belsky, Chief Product Officer and Executive Vice President, Creative Cloud
“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.”
– Emery Wells, Frame.io co-founder and CEO
