Acquisition will pair leading end-to-end cloud-based video collaboration platform with industry standard Creative Cloud software such as Premiere Pro and After Effects to power the video editing process.
Adobe has just announced it has entered into a definitive agreement to acquire Frame.io, a leading cloud-based video collaboration platform, for $1.275 billion. With over a million users across media and entertainment companies, agencies, and global brands, Frame.io provides users an end-to-end cloud-based video collaboration platform that enables video editors and key project stakeholders to seamlessly collaborate using cloud-first workflows. The acquisition will combine Adobe’s industry-leading creative software, including Premiere Pro and After Effects video editing products, and Frame.io’s review and approval functionality, delivering a collaboration platform that will bring considerable new functionality to the video editing process.
According to a company statement, “Collaboration is the next wave of creativity; digital collaboration is now the foundation of all creative endeavors. Adobe’s acquisition of Frame.io brings Adobe Creative Cloud’s collaboration services to video and builds on recent innovations for creative collaboration including Adobe Creative Cloud Libraries, Cloud Documents, Design Systems in Adobe XD, Adobe Stock, and Adobe Fonts, all of which together with Frame.io, will make it easy 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.”
He added, “Frame.io’s cloud-native platform is a secure and elegant way to gather feedback from everyone involved in a video production – from the director to the script supervisor to all the people who need to approve the final project. Many of the world’s top film and television studios and Fortune 100 companies rely on Frame.io. And that list includes Adobe – we’ve long used Frame.io to collaborate on videos for our website, social media, and events. Frame.io’s innovative founders and talented and passionate team are relentlessly focused on the future of video.”
“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 Emery Wells, Frame.io co-founder and CEO. “We’re excited to join Adobe to continue to drive video innovation for the world’s leading media and entertainment companies, agencies, and brands.”
Upon close, Frame.io co-founder and CEO Emery Wells and co-founder John Traver will join Adobe. Wells will continue to lead the Frame.io team, reporting to Scott Belsky. The transaction, subject to customary purchase price adjustments, is expected to close during the fourth quarter of Adobe’s 2021 fiscal year and is subject to regulatory approval and customary closing conditions. Until the transaction closes, each company will continue to operate independently.
Source: Adobe
Dan Sarto is Publisher and Editor-in-Chief of Animation World Network.
