American software maker Adobe is acquiring collaboration platform frame.io for about US$1.3 billion (1.1 billion euros). Upon completion of the acquisition, Frame co-founder and CEO Emery Wells will remain on the board as team leader, Adobe announced Thursday. The deal is expected to close by the end of the current fiscal year, which runs through the end of November at Adobe. The acquisition is still subject to the approval of the supervisory authorities.
Frame.io enables collaborative control and editing of video content in the cloud. In the future, Frame.io tools will be more closely tied to Adobe’s Creative Cloud, and video editing software in particular. These include Adobe Premiere Pro and After Effects, which are standard applications for professional video editing.
“new era”
For Adobe, cloud-based collaboration is currently one of the defining trends in the digitized creative process. “We are in a new era of network creativity that relies heavily on collaboration,” said Scott Belsky, Adobe’s product director. communication with the company.
The company initially considered developing its own collaboration tools, Belsky told financial news agency Bloomberg. But then it was decided to take over Frame.io as many Adobe customers are already using the tool. Frame.io has been offering its tools since 2015. The app received the Apple Design Award in 2016.
(VBR)
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