April 29, 2021

ADBE Stock News: Adobe Signs ServiceNow To Its Business Data Platform

Digital marketing and analytics software maker Adobe (ADBE) has nabbed a big win for its…

Digital marketing and analytics software maker Adobe (ADBE) has nabbed a big win for its real-time customer data platform. Adobe announced Tuesday that ServiceNow (NOW) has signed up to use its Adobe Experience Platform, which is part of the Adobe Experience Cloud. ADBE stock rose on Tuesday.




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ServiceNow will use a new business-to-business edition of the Adobe Real-time Customer Data Platform. Adobe announced the product at its annual Adobe Summit, which began Tuesday. The three-day conference is being held online for the second straight year because of the Covid-19 pandemic.

ServiceNow, a digital workflow company, said it hopes to improve its B2B customer experience with the Adobe service. ServiceNow works with nearly 7,000 enterprise brands.

“As today’s work is driven by a digital-first mindset, there’s an added urgency for a compelling experience at each step in a customer’s journey,” Susie Emmerling, vice president of marketing operations at ServiceNow, said in a blog post. “Adobe Experience Platform will help empower our team to understand our customers better, ultimately resulting in more personalized and valuable engagements.”

ADBE Stock Approaches Buy Point

The companies did not disclose financial terms of the agreement.

ADBE stock rose 0.3% to close at 517.32 on the stock market today. Over the past 35 weeks, ADBE stock has been consolidating with a buy point of 536.98, according to IBD MarketSmith charts.

ServiceNow stock advanced 0.6% to finish at 562.63. Earlier in the session, NOW stock hit a buy point of 560.89 from a cup-with-handle base, MarketSmith charts show.

In other ADBE stock news, Adobe and FedEx (FDX) announced a multi-year collaboration. Under the deal, Adobe will integrate FedEx’s ShopRunner e-commerce platform with its Adobe Commerce platform.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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