Adobe today announced it will acquire Frame.io for $1.275billion in cash. Frame.io is used by more than a million people to collaborate and video review.
Frame.io, a New York-based post-production company Emery Wells’ owner and John Traver the technologist was founded in 2014. Its goal is to address the challenges that filmmakers face in daily life. __S.3__
Frame.io is a platform that helps video creators streamline their process. It centralizes media assets such as scripts and dailies and allows for frame-accurate feedback, comments and annotations. Frame.io boasts faster upload speeds than any other cloud hosting service, such as Vimeo, Box and Dropbox.
Frame.io raised over $90 million of venture capital during its existence. In November 2019, Insight Partners announced a $50,000,000 Series C that featured participation by Shasta Ventures, Shasta Ventures, FirstMark and SignalFire. In 2015, Accel was the chief investor in both its Series A and seed rounds.
Adobe claimed that the combination of Adobe’s creative software (including After Effects and Premiere Pro video editing products) and Frame.io review and approval functionality will “deliver an collaboration platform that powers video editing processes.” Frame.io was created to integrate with non-linear editing system (NLEs), such as Adobe Premiere Pro. These integrations enable editors to upload to Frame.io and then share and organize their products with clients both internal and externally.
Adobe stated in a statement that video creation and consumption are experiencing significant growth. Today, video workflows can be disjointed. There are multiple communication channels and tools that are used to gather stakeholder feedback. Frame.io removes inefficiencies in video workflows. It allows real-time uploads, access and stakeholder collaboration across all surfaces .”
It is anticipated that the deal will close in Adobe’s fourth quarter 2021 fiscal year. However, it is subject to regulatory approvals and other customary closing conditions. After the deal is closed, Well and Traver join Adobe. Wells will still lead Frame.io, and report to Scott Belsky (Adobe’s chief product officer, EVP Creative Cloud).
Publiated at Thu, 19 August 2021 21.02:04 (+10000)