Adobe Inc said on Thursday it would buy Frame.io, a cloud-based video collaboration platform, in a $1.27 billion deal.
Frame.io streamlines the video production process by enabling video editors and key project stakeholders to collaborate using cloud-first workflows.
Adobe said Frame.oi has more than a million users across media and entertainment companies, agencies, and global brands.
“Acquisition brings together Adobe creative cloud’s leading video capabilities with Frame.io’s cloud-first workflow functionality to create end-to-end video collaboration platform,” the company said.
The deal is expected to close in the fourth quarter. After the deal close, Frame.io co-founder and Chief Executive Emery Wells and co-founder John Traver will join Adobe.
Source: Reuters.com