Adobe to buy Magento Commerce in $1.68 billion deal

An Adobe Systems Inc software box is seen in Los Angeles, California, U.S., March 13, 2017. REUTERS/Lucy Nicholson
An Adobe Systems Inc software box is seen in Los Angeles, California, U.S., March 13, 2017. REUTERS/Lucy Nicholson

Thomson Reuters

(Reuters) - Adobe Systems Inc said on Monday it would buy e-commerce platform Magento Commerce in a $1.68 billion deal.

The Photoshop maker also said it would buy back up to $8 billion in common stock through its fiscal year 2021.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Anil D'Silva)

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