Adobe announced it has entered into an agreement to acquire Frame.io, a leading cloud-based video collaboration platform, in a deal valued at $1.275 billion.
The combination of Adobe’s industry-leading creative software, including Premiere Pro and After Effects video editing products, and Frame.io’s review and approval functionality, will deliver a collaboration platform that powers the video editing process.
In an official press release Adobe stated, “Collaboration is the next wave of creativity: Digital collaboration is now the foundation of all creative endeavors. Adobe’s acquisition of Frame.io brings Adobe Creative Cloud’s collaboration services to video and builds on recent innovations for creative collaboration including Adobe Creative Cloud Libraries, Cloud Documents, Design Systems in Adobe XD, Adobe Stock, and Adobe Fonts, all of which together with Frame.io, will make it easy for teams to collaborate across Adobe Premiere Pro, Adobe Photoshop, Adobe Illustrator, and other Adobe Creative Cloud applications.”
Creative Cloud CPO and EVP Scott Belsky said, “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.”
Frame.io co-founder and CEO Emery Wells said, “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.”
With the combination of Frame.io and Adobe, Creative Cloud customers, from video editors, to producers, to marketers, will benefit from seamless collaboration on video projects with Frame.io workflow functionality built natively in Adobe Creative Cloud applications like Adobe Premiere Pro, Adobe After Effects, and Adobe Photoshop.
Frame.io co-founder and CEO Emery Wells and co-founder John Traver will join Adobe. Wells will continue to lead the Frame.io team, reporting to Scott Belsky. The transaction, subject to customary purchase price adjustments, is expected to close during the fourth quarter of Adobe’s 2021 fiscal year and is subject to regulatory approval and customary closing conditions. Until the transaction closes, each company will continue to operate independently.