Adobe said on Thursday that it will acquire Cloud video collaboration platform Frame.io for US$1.275 billion in cash. It is understood that this is a video monitoring and collaboration platform used by more than 1 million users. After regulatory approval, the transaction is expected to be completed in the fourth quarter.
Adobe said: The acquisition combines Adobe Creative Cloud’s leading video capabilities with Frame.io’s cloud-first workflow capabilities to create an end-to-end video collaboration platform. Frame.io can simplify the video production process.
After the transaction is completed, Frame.io co-founders and CEOs Emery Wells and John Traver will join Adobe and will continue to lead the Frame.io team, reporting to Scott Belsky, Adobe CEO and Executive Vice President of Creative Cloud.
