Magento features are quite well designed in the area of online website development. It is potential open source software for development of ecommerce online websites. Seeing the emerging exposure of this platform it has soon become a popular one in its own kind as many of the people who were planning to get an ecommerce online website for them start availing the services of magento for their website development and design. This software was unique and creative and had various unique features from many of its own kind of open source platform.
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What is acquisition:
Acquisition of a company is related to acquiring some particular company. In general layman language it can be defined as a procedure or buying of some company. This usually happens when some big company shows interest in the small company and buys and takes the entire control of that company even on its assets and liabilities.
Acquisition of magento:-
Adobe is a successful company in creative designing, marketing and advertising. The work of Adobe is quite impressive in its own kind. Currently we live in the world of technology where the work of technology is quite on higher note seeing this potential of work adobe knows that the need of development of ecommerce website is gonna peak and that's the reason adobe have that thing to invest in doing some acquisition with the company who is into designing and creating of ecommerce platform. Magento is a company who is doing good in the market but getting attached to a name like adobe have enhanced his market value more. Therefore, both the companies understanding their worth and getting attached to each other finally pursue the deal of acquisition brought up by Adobe INC. for magento. This deal has enhanced the ecommerce platform for Magento and made adobe among one of the biggest software companies as their ideas and team working together have enhanced both of their work in their own ways.
Adobe is now fulfilling their customer demands on the ecommerce platform which was a missing thing in their earlier list of services.
This acquisition between Magento and Adobe happened in the year 2018 for the massive amount of $1.68 billion.