Adobe has entered into a definitive agreement to acquire Frame.io, a cloud-based video collaboration platform, in a transaction valued at $1.27 billion (€1.09bn).
With over a million users across media and entertainment companies, agencies, and global brands, Frame.io streamlines the video production process by enabling video editors and key project stakeholders to seamlessly collaborate using cloud-first workflows.
“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,” said Emery Wells, Frame.io co-founder and CEO. “We’re excited to join Adobe to continue to drive video innovation for the world’s leading media and entertainment companies, agencies, and brands.”
Upon close, 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 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.