Software major Adobe announced that it has entered into a definitive agreement to acquire Frame.io, a leading cloud-based video collaborateon platform, for $1.275 billion.
With over a million users across media and entertainment companies, agencies and global brands, Frame.io streamline the video production process by enabling video editors and key project stakeholders to seamlessly collaborate using cloud-first workflows.
"With this acquisition, we are welcoming an incredible customer-oriented team and adding Frame.io's cloud-native workflow capabilities to make the creative process more collaborative, productive, and efficient to further unleash creativity for all," Scott Belsky, Chief Product Officer and Executive Vice President, Creative Cloud, said in a statement.
The combination of Adobe's industry-leading creative software, including Premiere Pro and After Effects video editing products and Frame.io's review and approval functionality, will deliver a collaboration platform that powers the video editing process.
With the combination of Frame.io and Adobe, Creative Cloud customers, from video editors, to producers, to marketers, will benefit from seamless collaboration on video projects with Frame.io workflow functionality built natively in Adobe Creative Cloud applications like Adobe Premiere Pro, Adobe After Effects, and Adobe Photoshop.
Frame.io customers and partners will benefit from the company's robust plug-ins and third-party application support along with the innovation generated by the combined Adobe Creative Cloud and Frame.io teams.
"We have entered a new era of connected creativity that is deeply collaborative, and we imagine a world where everyone can participate in the creative process," said Belsky.
With the addition of Frame.io, Adobe Creative Cloud's commitment to enabling collaboration across all stakeholders of creativity extends beyond Adobe's applications to the growing number of third-party applications across the creative ecosystem.
