Adobe Inks Deal to Buy Frame.io for $1.3 Billion

Key Points:

  • Adobe will buy Frame.io for $1.3 billion. With this deal, Adobe is set to expand its creative cloud unit. 
  • Frame.io is a popular video collaboration platform that is extensively used by brands and media agencies
  • Frame.io has multiple high profile clients such as Vice, Turner, and Netflix

Adobe Inc. announced that it is set to buy Frame.io, a popular video collaboration platform in a $1.3 billion cash deal. This is Adobe’s biggest deal since it acquired Workfront for around $1.5 billion in 2020. 

Frame.io will expand the capabilities of Adobe’s creative cloud that is host to software such as Illustrator and Adobe Photoshop. 

SEE ALSO: Cisco Systems Scoops Israeli Tech Company Epsagon for $500 Million

Why did Adobe Acquire Frame.io?

According to Scott Belsky, Chief Product Officer, Adobe, the company wanted to acquire Frame.io after it figured out that its customers are using the platform with Adobe’s suite of products. 

Initially, Adobe was considering developing a native video editing and collaboration software. However, it decided to acquire Frame.io instead. 

Frame.io’s Chief Executive Officer, Emery Wells, and Co-founder John Travel will soon join Adobe after the deal is finalized. According to trusted sources, the deal is set to close in the fourth quarter of Adobe’s 2021 fiscal year. 

Growing Demand for Video Collaboration Tools

Social media is one of the main driving forces behind the staggering growth in the demand for video editing tools. Since different types of video content continue to attract huddled masses on social media, demand for video collaboration tools has increased. 

Scott Belsky said Adobe’s video customers, right from schools to large corporations are interested in creating video content. 

There is a stark difference between how videos were edited in the past. Earlier, the video editing team was present in the same room. However, in today’s era, collaborators could be sitting in different corners of the world. 

This is why Adobe and other software companies are heavily involved in creating tools that facilitate smooth video editing. 

More about Frame.io

Frame.io is a New York-based tech startup that was founded in 2015. The company serves clients from different industries which include media agencies, brands, and broadcasters. 

The company is backed by Accel and Insight Partners.

SEE ALSO: Robinhood Buys Say Technologies, It’s First Acquisition as a Public Company

Feature Image Source: Adobe

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency.  At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

We will be happy to hear your thoughts

Leave a reply

ToolsMetric
Logo
Compare items
  • Total (0)
Compare
0