Adobe on Thursday announced that it has acquired Fotolia, a marketplace for royalty-free photos, images, graphics and HD video for a deal amount of USD 800 million in cash. As a part of the acquisition, Fotolia will be integrated into Adobe Creative Cloud to help Creative Cloud members to access and purchase over 34 million images and videos in the company’s portfolio.
The deal is expected to be closed in the second half of Adobe’s fiscal Q1 2015 and until the transaction closes, each company will continue to operate independently.
“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.
“This acquisition 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.
The company has also announced that Adobe Creative cloud now has over 3.4 million members.The company told TechCrunch that it is also planning to offer specific subscription levels to Creative Cloud that will help Adobe’s subscribers to access Fotolia’s content. Also, Adobe is looking for new ways to connect Fotolia with its portfolio site Behance, to provide new ways to subscribers for monetize their work.
Fotolia was founded in 2004, with offices in New York, Paris and Berlin. It is owned by Kohlberg Kravis Roberts & Co. L.P., TA Associates and management, currently operates in 23 countries and has websites in 14 languages.
In September, Adobe had acquired New York based photo editing platform Aviary in order to accelerate its Creative Cloud App development via a new Creative SDK. This acquisition comes along the same lines.Category Business Investments