Adobe said on Thursday it would buy Frame.io, a cloud-based video collaboration platform, in a $1.27 billion (roughly Rs 9,452 crores) deal. Frame.io streamlines the video production process by enabling video editors and key project stakeholders to collaborate using cloud-first workflows. Adobe said Frame.oi has more than a million users across media and entertainment companies, agencies, and global brands. ?Acquisition brings together Adobe creative cloud?s leading video capabilities with Frame.io?s cloud-first workflow functionality to create end-to-end video collaboration platform,? the company said.
The deal is expected to close in the fourth quarter. After the deal close, Frame.io co-founder and Chief Executive Emery Wells and co-founder John Traver will join Adobe. Frame.io is an online video editing platform that was created in 2015 and lets video editors easily work in groups with comments, annotations, and approval requests. According to reports, Adobe expects to merge Frame.io’s capabilities with its own software like Premiere Pro and After Effects in the future. The company argues that Frame.io ?has reinvented the modern video workflow.?
?Adobe’s mission is to empower creativity for all and as creativity becomes increasingly collaborative, it is essential that we make it simple and efficient for creative people to work together and to involve all the people who need to review and approve their work,? Adobe said in a blog post. The company said that users will hear more about the collaboration in October this year, during the Adobe MAX, the company?s annual creative conference that takes place during fall season.
(With inputs from Reuters)
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