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Adobe To Acquire Fotolia, Reports Earnings, Releases CC Libraries
11 December 2014
Adobe made three announcements late today. The first involves the acquisition of Fotolia, a marketplace for royalty-free photos, images, graphics and HD video. The company also announced fourth-quarter earnings. And finally, it released Creative Cloud libraries. Details follow.
FOTOLIA
Adobe today announced it has entered into an agreement to acquire Fotolia, a marketplace for royalty-free photos, images, graphics and HD video. Fotolia will be integrated into Adobe Creative Cloud, the company said, providing Creative Cloud members the ability to access and purchase over 34 million images and videos and significantly simplifying and accelerating the design process.
For more information see the news release below.
FOURTH-QUARTER EARNINGS
The company also released its fourth-quarter earnings of $1.073 billion, disclosing Creative Cloud now has more than 3.45 million paid members, an addition of 644,000 subscribers.
For more information see the Business Wire report.
CREATIVE CLOUD LIBRARIES
Finally, Adobe today released brand new collaboration and management features in Creative Cloud Libraries to make favorite images, colors and text styles available to anyone anywhere and anytime. For more information on that news, visit the Adobe Creative Cloud blog and watch the demo video from Adobe's Paul Trani showing how assets can be shared in Photoshop, Illustrator and mobile apps like Brush and Shape using Creative Cloud Libraries.
Adobe To Acquire Fotolia: Adds Stock Content Marketplace To Creative Cloud
Acquisition To Deliver Vibrant Image and Video Marketplace for Creatives Worldwide
SAN JOSE, Calif. -- Adobe has announced it has entered into a definitive agreement to acquire privately-held Fotolia, a leading marketplace for royalty-free photos, images, graphics and HD video, for approximately $800 million in cash. 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, significantly simplifying and accelerating the design process. The acquisition of Fotolia cements Creative Cloud's role as a vibrant marketplace for creatives to buy and sell assets and services as well as showcase their talent to a worldwide audience. Adobe also plans to continue to operate Fotolia as a standalone 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, Digital Media, Adobe. 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."
With 3.45 million members, Adobe Creative Cloud features the world's leading desktop tools, an array of complementary mobile apps, training content, creative assets and services and ready access to a dynamic community. Creative Cloud is transforming how creatives find inspiration and deliver their best work -- and the value of Creative Cloud is increasing all the time through product updates and new capabilities like Creative Talent Search. Following the completion of the 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.
Founded in 2004, with offices in New York, Paris and Berlin, privately-held Fotolia is owned by Kohlberg Kravis Roberts & Co. L.P., TA Associates and management. Fotolia currently operates in 23 countries and has Web sites in 14 languages.
The transaction, which is expected to close in the second half of Adobe's fiscal Q1 2015, is subject to certain regulatory approvals and customary closing conditions. The potential financial impact to Adobe of this transaction is not reflected in financial targets Adobe has previously provided or new targets disclosed as part of Adobe's financial results, released on Dec. 11. Until the transaction closes, each company will continue to operate independently. Upon close Fotolia CEO, Oleg Tscheltzoff, will continue to lead the Fotolia team as part of Adobe's Digital Media business.
For more information on Fotolia and the creative community, see: http://blogs.adobe.com/conversations/2014/12/building-a-vibrant-marketplace-for-the-creative-community.html