In a bid to diversify Adobe has purchased Magento for $1.68 Billion from private equity firm Permira who made its purchase in 2015 from Ebay. Pending regulatory approval the deal is expected to go through in the third quarter of the fiscal year and represents Adobes largest purchase in nearly a decade.

The purchase provides Adobe access to mid-market and large corporate customers including Canon Inc., and Rosetta Stone. The Chief Executive of Magento, Mark Lovelle who will continue to lead the Magento team, has stated “Adobe and Magento share a vision for the future of digital experiences that brings together Adobe’s strength in content and data with Magento’s open commerce innovation….We’re excited to join Adobe and believe this will be a great opportunity for our customers, partners and developer community.”

Magento will be a part of Adobes Experience Cloud where they will become a fully fledged enterprise player. Adobes other businesses sit within their Creative Cloud (Photoshop/Lightroom etc) and Marketing Cloud (Omniture etc).

It is a move towards offering an end to end solution providing improved integration and ease of implementation. With this purchase Adobe’s suit of products could sell, market, advertise and offer analytics with Magento actigng as the hub.