2021: Adobe buys Frame.io
On August 20, 2021, Adobe announced plans to purchase a cloud platform for shared video editing Frame.io for $1.28 billion[1].
The Frame.io, created in 2014, has about 1 million users at the time of the announcement of the transaction. Its acquisition will add new capabilities to the Creative Cloud platform, said Scott Bielski, Adobe product director and executive vice president of Creative Cloud.
Creative Cloud includes more than 20 applications and services for personal computers and mobile devices for working with photos, design, video, web content and many others. This includes Photoshop and Illustrator.
The deal is expected to close in Adobe's fiscal fourth quarter (September-November).
Frame.io founder and CEO Emery Wells and startup co-founder John Trever will work at Adobe after the deal closes. Wells will still lead the team Frame.io.
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