Computer software company Adobe (ADBE) recently announced that it has entered into a definitive agreement to acquire a cloud-based video collaboration platform, Frame.io, for $1.27 billion. The deal is likely to close in the fourth quarter of Adobe’s Fiscal Year 2021. Following the news, shares of the company remained unchanged at $637.66 on Thursday. The buyout will enable Adobe to make use of Frame.io’s cloud-first workflows. Further, Adobe will be able to access Frame.io’s diverse user base. The Chief Product Officer of Adobe Creative Cloud, Scott Belsky, said, "With this acquisition, we’re welcoming an incredible customer-oriented team and adding Frame.
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