Adobe to Acquire Fotolia: Adds Stock Content Marketplace to Creative Cloud
December 11 2014 - 4:06PM
Business Wire
Acquisition to Deliver Vibrant Image and Video Marketplace
for Creatives Worldwide
Adobe (Nasdaq:ADBE) today announced that 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 preeminent 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 over 3.4 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 websites 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 December 11, 2014.
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
Forward-Looking Statements Disclosure
This press release includes forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of
1995, that are subject to risks, uncertainties and other factors,
including risks and uncertainties related to Adobe’s ability to
successfully integrate Fotolia’s stock content service into
Creative Cloud. All statements other than statements of historical
fact are statements that could be deemed forward-looking
statements, including statements regarding: the ease of use of any
future Adobe stock content service, the functionality of the
service’s commerce system, plans for integrating the service into
Creative Cloud and other anticipated benefits of the transaction to
Adobe; the ability of Adobe and Fotolia to close the announced
transaction; any statements of expectation or belief; and any
statements of assumptions underlying any of the foregoing. These
risks, uncertainties and other factors, and the general risks
associated with Adobe’s business, could cause actual results to
differ materially from those referred to in the forward-looking
statements. The reader is cautioned not to rely on these
forward-looking statements. All forward-looking statements are
based on information currently available to Adobe and are qualified
in their entirety by this cautionary statement. For a discussion of
these and other risks and uncertainties, individuals should refer
to Adobe's SEC filings. Adobe does not assume any obligation to
update any such forward-looking statements or other statements
included in this press release.
About Adobe
Adobe is changing the world through digital experiences. For
more information, visit www.adobe.com.
© 2014 Adobe Systems Incorporated. All rights reserved. Adobe,
the Adobe logo, and Creative Cloud are either registered trademarks
or trademarks of Adobe Systems Incorporated in the United States
and/or other countries. All other trademarks are the property of
their respective owners.
Press ContactAdobeRussell Brady,
408-536-6048rbrady@adobe.comorInvestor Relations
ContactAdobeMike Saviage, 408-536-4416ir@adobe.com
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