Adobe To Acquire Video Software Company Frame.io For $1.78 Billion
Adobe has announced plans to acquire Frame.io for $AUD1.78 billion, pending approval.
Frame.io is cloud-based video production software that enables multiple creatives to work on the same video.
Adobe will fold Frame.io into its Creative Cloud suite, much as it did with other cloud-based acquisitions, like Behance and stock-picker Fotolia.
“Frame.io’s cloud-native platform is a secure and elegant way to gather feedback from everyone involved in a video production – from the director to the script supervisor to all the people who need to approve the final project,” explained chief product officer and executive vice president, Creative Cloud, Scott Belsky.
“Many of the world’s top film and television studios and Fortune 100 companies rely on Frame.io. And that list includes Adobe – we’ve long used Frame.io to collaborate on videos for our website, social media, and events.”
“We plan to deeply integrate Frame.io into Premiere Pro, our industry-leading video editing application,” Belsky continued.
“Longer term, we have ambitious plans to bring advanced collaboration and groundbreaking technology, including expanded use of artificial intelligence, to video production and make every creator and creative team more collaborative and productive. And the innovation won’t be limited to Creative Cloud applications.
“With the addition of Frame.io, Creative Cloud’s commitment to enable collaboration across all stakeholders of creativity extends beyond Adobe’s applications to the growing number of third-party applications across the creative ecosystem.”
Adobe expected the deal to close to the final quarter of 2021. It shares weren’t impacted by the announcement.