Adobe To Acquire Video Innovation Firm Frame.io For $1.3B

  • Adobe Inc ADBE agreed to acquire cloud-based video collaboration platform Frame.io for $1.275 billion.
  • Frame.io streamlines the video production process by seamlessly enabling video editors and key project stakeholders to collaborate using cloud-first workflows.
  • The arrangement is likely to deliver a collaboration platform that powers the video editing process.
  • Frame.io joins Adobe to drive video innovation for the world's leading media and entertainment companies, agencies, and brands, Frame.io CEO Emery Wells said.
  • The transaction is likely to close in Q4 of FY21.
  • Adobe held $5.8 billion in cash and equivalents as of June 4.
  • Price Action: ADBE shares closed higher by 1.74% at $637.66 on Thursday.
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