Take the case of its customer Prudential Financial, where adoption started within the marketing function but has since rippled out to many other parts of the business. Yet to characterize Workfront as solely targeting marketing teams doesn't tell the whole story. When you have an opportunity to work with the company that CMOs rely on to run their business, which is Adobe, and you’re a company like Workfront, that takes us forward years in terms of what we would have been able to accomplish on our own. Workfront CEO Alex Shootman, who after the deal closes will report to Chakravarthy, reinforced the marketing focus when he spoke to Bloomberg about the deal:
Adobe's announcement of the deal emphasized the combination of Workfront with its Experience Cloud to "bring efficiency, collaboration, and productivity gains to marketing teams currently challenged with siloed work management solutions," adding that a third of Workfront's 3,000 customers are already Adobe customers, including Deloitte, Under Armour, Nordstrom, Prudential Financial, T-Mobile, and The Home Depot. When the acquisition closes, Workfront will become part of Adobe's digital experience business unit under Anil Chakravarthy, who was CEO at integration vendor Informatica before joining Adobe in January. But with marketing teams taking the lead as early adopters of such platforms, is Adobe simply acquiring an add-on to its existing tools for marketers? Or does it have its sights set on a far bigger opportunity? The price reflects the growth that's currently being seen in the sector, which also includes recent IPO debutant Asana, developer favorite Atlassian, and many smaller, venture-funded players. Multimedia and digital marketing software giant Adobe announced yesterday it is acquiring work management pioneer Workfront for $1.5 billion.
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