Adobe Systems is set to buy e-commerce services provider Magento Commerce from private equity firm Permira for $1.68 billion in cash.
Adobe said the deal will help bolster its experience cloud business, which provides services including analytics, advertising and marketing.
Magento was acquired by Permira from eBay in 2015. Magento has clients such as Canon, Helly Hansen, Paul Smith and Rosetta Stone, among others.
Common customers of Magento and Adobe include Coca-Cola, Warner Music Group, Nestle and Cathay Pacific.
