The deal enables Adobe to create an end-to-end video collaboration platform by combining Adobe Creative Cloud’s video capabilities with Frame.io’s cloud-first workflow functionality
US software company Adobe has agreed to acquire Frame.io, a cloud-based video collaboration platform, for $1.27bn.
Based in New York City, Frame.io is a video review and approval platform that is said to cater to more than a million users across media and entertainment firms, agencies and global brands.
The company’s platform is designed to optimise the video production process by helping video editors and important project stakeholders to collaborate seamlessly with the help of cloud-first workflows. To achieve this, the platform centralises assets and feedback in the cloud.
Founded in 2015, the company had secured $82.2m funding and has a workforce of over 250 employees.
Adobe said that the combination of Premiere Pro and After Effects video editing products and other creative software with Frame.io’s review and approval functionality will provide a collaboration platform for powering the video editing process.
By facilitating real-time footage upload, access, and in-line stakeholder collaboration in a secure and elegant manner across surfaces, Frame.io removes the inefficiencies associated with video workflows.
Adobe stated by acquiring Frame.io, it can bring the collaboration services of Adobe Creative Cloud to video and consolidate on recent innovations for creative collaboration.
The company added that Adobe Creative Cloud Libraries, Cloud Documents, Design Systems in Adobe XD, Adobe Fonts, and Adobe Stock, when combined with the cloud-based video collaboration platform will simplify things for teams to collaborate across Adobe Premiere Pro, Adobe Illustrator, Adobe Photoshop, and other Adobe Creative Cloud applications.
Frame.io co-founder and CEO Emery Wells said: “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.
“We’re excited to join Adobe to continue to drive video innovation for the world’s leading media and entertainment companies, agencies, and brands.”
After the closing of the deal, Wells and another co-founder John Traver will join Adobe. The former will continue to lead Frame.io’s team and report to Scott Belsky.
Adobe creative cloud chief product officer and executive vice president Scott Belsky said: “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.
“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.”
The deal, which is contingent on regulatory approval and customary closing conditions, is anticipated to close during the fourth quarter of Adobe’s 2021 fiscal year.