Adobe to Buy Video-Production Platform Frame.io for $1.3 Billion
Todd Spangler NY Digital EditorAdobe announced a deal to acquire Frame.io, a cloud-based video collaboration platform, in a deal worth $1.275 billion.Adobe said the deal is expected close during the fourth quarter of its 2021 fiscal year (which ends in late November), subject to regulatory approval and other closing conditions.Upon close, Frame.io co-founder and CEO Emery Wells and co-founder John Traver will join Adobe, with Wells continuing to lead the Frame.io team, reporting to Scott Belsky, Adobe’s chief product officer and EVP of Adobe Creative Cloud.Founded in 2015 and launched in March 2016, Frame.io says it has more than 1 million users across media and entertainment companies, agencies and brands.