Adobe to Buy Fotolia, Reports Q4 Earnings
Adobe announced an agreement to acquire Fotolia for $800 million and reported fourth-quarter revenues of $1.073 billion.Adobe announced that it has entered into a definitive agreement to acquire Fotolia, a marketplace for royalty-free photos, images, graphics and HD video, for approximately $800 million in cash. Officials at San Jose, Calif.-based Adobe said Fotolia will be integrated into Adobe Creative Cloud, providing current and future Creative Cloud members with the ability to access and purchase over 34 million images and videos to help simplify and accelerate the design process. Adobe also plans to continue to operate Fotolia as a stand-alone stock service, accessible to anyone. "The acquisition of Fotolia will reinforce Creative Cloud's role as the pre-eminent destination for creatives," said David Wadhwani, senior vice president of Digital Media at Adobe, in a statement. "Creative Cloud is becoming the go-to marketplace for the creative community to access images, videos, fonts and creative talent, through critical creative services like Fotolia and our new Creative Talent Search capabilities." Adobe Creative Cloud has more than 3.45 million members and features leading desktop tools, an array of complementary mobile apps, training content, creative assets and services, and ready access to a dynamic community. Adobe said the value of Creative Cloud is continually increasing through product updates and new capabilities such as Creative Talent Search. Following the completion of the Fotolia acquisition, Adobe expects to integrate the delivery and purchase of stock assets into Creative Cloud.
"Becoming part of the Adobe family is a dream come true for the Fotolia team and will accelerate our vision to become the best place for artists to build a business and the ultimate destination for designers to find stunning creative work," said Oleg Tscheltzoff, founder and CEO of Fotolia, in a statement.