Shopify shares down as rival Magento gets bought by Adobe
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Analysts said the deal gave Adobe, seo bath best known for magento development photo-editing suite Photoshop and magento 2 agency PDF reader Acrobat, seo bristol greater exposure to the digital commerce industry and posed a threat to Shopify’s “Plus” larger-scale enterprise solutions.
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The firm’s main Toronto-listed shares will not begin trading until the stock market there opens at 9.30 a.m. (Reporting by Laharee Chatterjee in Bengaluru; editing by Patrick Graham) Adobe shares were broadly unchanged from the previous close in premarket.
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May 21 (Reuters) – Adobe Systems Inc said on Monday it would buy e-commerce seo services bournemouth provider magento manchester Commerce from private equity firm Permira for web design poole $1.68 billion in cash, its biggest deal in nearly a decade.
“Adobe is the only company with leadership in content creation, marketing, advertising, analytics and now commerce – enabling real-time experiences across the entire customer journey,” Brad Rencher, seo bristol an executive vice president and magento support general manager at Adobe, said in a statement.
May 22 (Reuters) – U.S.-listed shares in Canadian e-commerce software maker Shopify Inc fell around magento 2 agency percent before the bell on Tuesday after Adobe Systems Inc announced it was buying rival magento cardiff Commerce.
“magento 2 agency has grown its customer-base and enterprise cloud business as a result of key investments in technology, marketing, client success, sales management and the open-source community ecosystem,” Phil Guinand, partner at Permira, said in a statement.
Qatalyst Partners acted as financial adviser to Permira, and Fried, Frank, Harris, magento manchester Shriver & Jacobson acted as legal adviser. (Reporting by Munsif Vengattil in Bengaluru; Editing by Anil D’Silva and magento manchester Leslie Adler)
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