Adobe, Microsoft Deepen Cloud Computing Partnership
Adobe and Microsoft on Tuesday announced that they are expanding their cloud computing partnership deeper into customer experience management. Adobe stock and Microsoft stock climbed on the news.
Adobe and Microsoft first partnered on cloud computing about three years ago to sell companies on digital transformation. On Tuesday, the companies announced integrations of Adobe Experience Cloud and Adobe Document Cloud with Microsoft's Dynamics 365, Office 365, LinkedIn and Azure cloud infrastructure services.
As part of the new integrations, Microsoft has chosen Adobe Sign as its preferred e-signature solution across its productivity and workflow software offerings. Adobe Sign now integrates deeply with Microsoft SharePoint, Dynamics 365, Teams and other products.
"Microsoft has something like 180 million commercial customers and users and that represents a humongous opportunity for us," Dave Welch, vice president of Microsoft solutions at Adobe, told Investor's Business Daily. "It's a huge opportunity for Adobe partnering up with Microsoft to drive workforce automation and digital transformation with our Adobe Sign product."
Adobe, Microsoft Both On IBD 50 List
The two companies also are linking Microsoft's customer relationship management software, Dynamics, with Adobe's Marketo Engage marketing software. Marketo Engage will be able to access data from the LinkedIn professional network database for targeted engagements, Welch said.
Adobe has seen a "phenomenal response" from customers for its integrations with Microsoft so far, Welch said. The new announcements deepen the ties between the two companies, he said.
Adobe stock rose 0.5% to finish at 291.72 on the stock market today. It has formed a third-stage cup base with a buy point of 313.21, according to IBD MarketSmith charts.
Microsoft stock climbed 0.7% to close at 147.07. Earlier in the session, it notched a record high of 147.57. On Oct. 28, Microsoft stock broke out of a second-stage flat base at a buy point of 142.47.
Microsoft ranks No. 20 on the IBD 50 list of top-performing growth stocks. Adobe ranks No. 46 on the list.
Industry: Cloud Computing
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