Adobe acquired Magento for about $1.68 billion in 2018.
Magento was an open-source e-commerce platform used by merchants, developers, and agencies to build online stores. Adobe announced the acquisition in May 2018 and completed it later that year, adding commerce capabilities to its digital-experience products.
The purchase helped Adobe compete more directly in enterprise marketing and commerce software. Magento’s technology supported catalog management, shopping carts, checkout, promotions, and integrations with other business systems.
People sometimes confuse Magento with Magento Commerce, the commercial edition offered to larger businesses. Adobe retained the Magento brand for a period and later integrated the technology into Adobe Commerce. The deal was a software-platform acquisition, not the purchase of a conventional consumer retailer.