Adobe announced that it has agreed to acquire Frame.io, a cloud-based video review and collaboration platform with more than one million users at media and entertainment companies, agencies, and global brands. Adobe values the deal at approximately $1,275 billion, with the deal expected to close in the fourth quarter of Adobe’s fiscal 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 connected creativity that is deeply collaborative, and we imagine a world where everyone can participate in the creative process,” said Scott Belsky, Chief Product Officer and Executive Vice President, Creative Cloud.
“With this acquisition, we’re 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.”
Integrated with most major professional video tools, Frame.io streamlines the creative process by centralizing assets and feedback in the cloud to allow remote creative teams to collaborate securely and 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 Adobe’s deal closes, after which the company’s 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 brings together Adobe’s strength in video creation and production and Frame.io’s cloud-native platform,” said Wells. “We’re excited to join Adobe to continue to drive video innovation for the world’s leading media and entertainment companies, agencies, and brands.”