Adobe snaps up Frame.io for $1.275 billion in video push

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Adobe Inc.
ADBE,
+1.74%
on Thursday said it has reached a definitive agreement to acquire Frame.io, a leading cloud-based video collaboration platform with 1 million users, for $1.275 billion in cash. Frame.io will bring more capabilities to Adobe’s creative cloud, which includes Adobe Photoshop and Illustrator, Scott Belsky, Adobe’s chief product officer and executive vice president of Creative Cloud, said in a statement. Shares of Adobe are up 27.5% this year, while the broader S&P 500 index
SPX,
+0.13%
has improved 17% in 2021.

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