Adobe Systems Inc., the elder software-business statesman behind photo-editing software Photoshop and PDF reader, is buying e-commerce firm Magento Commerce for $1.68 billion, adding a key piece to its platform.
The acquisition—which would put Adobe head-to-head with the likes of Salesforce.com—presents a revenue opportunity of some $13 billion, Brad Rencher, Adobe’s executive vice president of digital experience, said in a conference call Monday, citing market-research firm estimates.
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