May 21, 2018

Adobe paying $1.6 billion to acquire Magento Commerce

Ina Fried

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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Making sense of the UN's climate conference coronavirus delay

Illustration: Sarah Grillo/Axios

The scuttling of November's pivotal UN climate conference is the starkest sign yet of how coronavirus is throwing a wrench into efforts to combat global warming. But like the wider relationship between the coronavirus and climate initiatives, the ramifications are ... complicated.

Driving the news: UN officials announced Wednesday that the annual summit to be held in Glasgow, Scotland, is postponed until some unknown time next year.

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Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 952,171 — Total deaths: 48,320 — Total recoveries: 202,541 — Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 216,722 — Total deaths: 5,137 — Total recoveries: 8,672 — Map.
  3. Stimulus updates: Social Security recipients won't need to file a tax return to receive their checks.
  4. Jobs update: 6.6 million people filed for unemployment last week, a staggering number that eclipses the record set on March 26.
  5. Health updates: The Trump administration won't reopen enrollment for ACA marketplaces this year.
  6. National updates: The Grand Canyon closed after a resident tested positive for coronavirus.
  7. World update: Israeli Prime Minister Benjamin Netanyahu re-entered self-quarantine after his health minister tested positive for coronavirus.
  8. What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

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