US software maker Adobe acquires the frame.io collaborative platform for US$1.3 billion (€1.1 billion). Adobe announced Thursday that Frame co-founder and CEO Emery Wells will remain in his role as team leader, when the acquisition is complete. The deal is expected to close by the end of the current fiscal year, which continues at Adobe through the end of November. The acquisition is still subject to approval by the supervisory authorities.
Frame.io enables collaborative control and editing of video materials in the cloud. In the future, Frame.io tools will be more closely related to Adobe Creative Cloud and, in particular, to video editing software. This includes Adobe Premiere Pro and After Effects, which are standard applications for professional video editing.
For Adobe, cloud-based collaboration is currently one of the defining trends in the digital creative process. Scott Belsky, Adobe Product Manager, said according to Communication from the company.
Belsky told financial news agency Bloomberg that the company initially considered developing its own collaboration tools. But then the decision to acquire Frame.io was made because many Adobe customers are already using the tools. Frame.io has been offering its tools since 2015. In 2016, the app received an Apple Design Award.