Adobe has announced its agreement to acquire Frame.io, a cloud-based video viewing and collaboration platform with over one million users across media and entertainment companies, agencies and global brands.
Adobe estimates the deal at approximately $1.275 billion and the deal is expected to close in the fourth quarter of Adobe’s fiscal year 2021.
Adobe says the acquisition of Frame.io will make it easier for teams to collaborate across Adobe Premiere Pro, Adobe Photoshop, Adobe Illustrator, and other Adobe Creative Cloud applications.
“We’ve entered a new era of collaborative creativity, and we’re envisioning a world where everyone can participate in the creative process,” said Scott Belsky, chief product officer and executive vice president of Creative Cloud.
“With this acquisition, we welcome an incredibly customer-centric team and are adding Frame.io’s cloud workflow capabilities to make the creative process more productive and efficient to further unleash creativity for everyone.”
Integrated with most major professional video tools, Frame.io streamlines the creative process by centralizing resources and feedback in the cloud, allowing remote creative teams to securely collaborate in real time from anywhere in the world.
Founded in 2014 by Emery Wells and John Traver, Frame.io has raised $90 million in funding to date. The company will operate independently until the closure of the Adobe deal, after which Adobe founders, Frame.io CEO Emery Wells and co-founder John Traver, will join Adobe. Adobe says Wells will continue to lead the Frame.io team.
“Frame.io and Adobe share a vision for the future of video creation and collaboration that combines Adobe’s video creation and production capabilities with the Frame.io cloud platform,” Wells said. “We’re excited to join Adobe to continue driving video innovation for the world’s leading media and entertainment companies, agencies and brands.”