Adobe to Buy Marketing Workflow Startup Workfront for $1.5 Billion

Photoshop maker Adobe Inc said on Monday it would buy Workfront. (Reuters)
Photoshop maker Adobe Inc said on Monday it would buy Workfront. (Reuters)
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Adobe to Buy Marketing Workflow Startup Workfront for $1.5 Billion

Photoshop maker Adobe Inc said on Monday it would buy Workfront. (Reuters)
Photoshop maker Adobe Inc said on Monday it would buy Workfront. (Reuters)

Photoshop maker Adobe Inc said on Monday it would buy Workfront, a work management platform for marketers, for $1.5 billion to help its customers collaborate better at a time when millions are forced to work from home.

Workfront, which has more than 3,000 customers and one million users, helps companies manage content, plan and track marketing campaigns as they attempt to keep productivity levels up with most of their employees working remotely.

Both companies are longstanding partners and already have over 1,000 shared customers.

Adobe is a premier software firm housing the industry’s most renowned graphics and photo editing application, however, it has not had the same success with collaboration tools.

Upon close, Workfront Chief Executive Officer Alex Shootman will continue to lead the Workfront team, Adobe said in a statement.

The deal is expected to close during Adobe’s first quarter of fiscal 2021.



Apple Names Insider Sabih Khan as COO

The Apple logo is seen on the Apple store at The Marche Saint Germain in Paris, France July 15, 2020. (Reuters)
The Apple logo is seen on the Apple store at The Marche Saint Germain in Paris, France July 15, 2020. (Reuters)
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Apple Names Insider Sabih Khan as COO

The Apple logo is seen on the Apple store at The Marche Saint Germain in Paris, France July 15, 2020. (Reuters)
The Apple logo is seen on the Apple store at The Marche Saint Germain in Paris, France July 15, 2020. (Reuters)

Apple on Tuesday named insider Sabih Khan as its chief operating officer, taking over from Jeff Williams, as part of a long-planned succession.

Khan, who has been with Apple for 30 years and is currently the senior vice president of operations, will take on the new role later this month, the iPhone maker said in a statement.

Before joining Apple's procurement group in 1995, he worked as an applications development engineer and key account technical leader at GE Plastics.

Williams will continue to report to CEO Tim Cook and oversee the company's design team and Apple Watch.

The design team will report directly to Cook after Williams retires late in the year.