Adobe to acquire Workfront for $1.5 Billion

Adobe Inc. said it will acquire Workfront Inc. for $1.5 billion to add a collaboration tool to its marketing software, providing expanded offerings during a pandemic that has forced companies to maintain productivity while employees work from home.

The deal is expected to close sometime from December to February 2021, San Jose, California-based Adobe said Monday in a statement. Workfront, based in Lehi, Utah, will take its 3,000 corporate customers and 1 million users to the software maker best known for Photoshop. Bloomberg earlier reported that the acquisition could come as soon as Monday.

After recent stumbles, the acquisition is Adobe’s biggest effort to reorient its Experience Cloud division, which includes marketing, advertising and analytics software, toward areas that are growing.