Adobe Systems Incorporated has said that it is planning to acquire software platform operator, Neolane in a cash deal valued at $600 million
Neolane operates a software platform for managing digital marketing campaigns covering multiple platforms. Acrobat has said that the acquisition will add important cross-channel campaign management capabilities to the Adobe Marketing Cloud.
Adobe Marketing Cloud includes a series of analytics, social, advertising, targeting, and web experience management solutions for the clients. Adobe is the largest maker of graphic-design software in the world. Meanwhile, Neolane counts Barnes & Noble and Bridgestone Tires among its clients. It offers a software platform for automation and execution of campaigns on the Web, email, social, mobile, call center, direct mail and point of sale.
Adobe has said that the acquisition is expected to be completed next month. the company also said that the deal will not materially affect its revenue forecast and adjusted financial results. Neolane CEO Stéphane Dehoche will continue to work as the head of the Neolane team as part of Adobe's digital marketing business.
Adobe's general manager of digital marketing business, Brad Rencher, said in a statement that the deal will bring "critical cross-channel campaign management capabilities. Adobe has long been the trusted partner to creative professionals and we are now extending our lead in the digital marketing space with the addition of Neolane," Rencher says.
Source: Top News