Adobe's San Jose Calif. headquarters. Photo: Getty Images

Adobe said Monday it is paying $1.6 billion to acquire e-commerce software company Magento Commerce from private equity firm Permira. The deal is expected to close in Adobe's third fiscal quarter.

Why it matters: Though best known for its graphics software, Adobe has expanded significantly into the digital business and commerce area in recent years. In 2009, it agreed to pay $1.9 billion to acquire Omniture.

Based in the Silicon Valley suburb of Campbell. Calif., Magento has more than 750 people. It was founded in 2008, acquired by eBay in 2011 and spun back out in 2015.

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Caitlin Owens, author of Vitals
20 mins ago - Health

The coronavirus is starting to crush some hospitals

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Some states are seeing dangerous levels of coronavirus hospitalizations, with hospitals warning that they could soon become overwhelmed if no action is taken to slow the spread.

Why it matters: Patients can only receive good care if there's enough care to go around — which is one reason why the death rate was so much higher in the spring, some experts say.

Scoop: The Lincoln Project is becoming a media business

Illustration: Eniola Odetunde/Axios

The Lincoln Project is looking to beef up its media business after the election, sources tell Axios.

Driving the news: The group recently signed with the United Talent Agency (UTA) to help build out Lincoln Media and is weighing offers from different television studios, podcast networks and book publishers.

Trump, Biden strategies revealed in final ad push

Data: Bully Pulpit Interactive; Chart: Danielle Alberti/Axios

President Trump is pouring hundreds of thousands of dollars into Facebook ads on the Supreme Court and conservative judges in the final stretch of his campaign, while Joe Biden is spending over a million on voter mobilization, according to an analysis by Axios using data from Bully Pulpit Interactive.

The big picture: Trump's Facebook ad messaging has fluctuated dramatically in conjunction with the news cycle throughout his campaign, while Biden's messaging has been much more consistent, focusing primarily on health care and the economy.