On Thursday, Adobe Inc announced that it will buy Frame.io, a cloud-based video collaboration platform, for a reported $1.27 billion.
Frame.io enables video editors and producers to upload footage in real-time.
Adobe pointed out that Frame.io has more than one million users in media and entertainment companies, not to mention agencies and global brands. Adobe said the company plans to combine its main creative software products including the video editing tools Premier Pro and After Effects with the review and approval function of Frame.io.
The company noted that the “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.”
Following the transaction, which is expected to close in the fourth quarter, Frame.io co-founder and CEO Emery Wells along with co-founder John Traver will join Adobe.
For more information, read the original story in Reuters.