Adobe announces its definitive agreement to acquire Fotolia, the privately held leader in the market of royalty-free HD photos, images, graphics and videos, in a transaction worth approximately US$ 800 million. Fotolia will be integrated into the Adobe Creative Cloud, allowing current and future members to access and purchase over 34 million images and videos, which will significantly simplify and accelerate the design process. The acquisition of Fotolia cements Creative Cloud's role as a vibrant marketplace for creative professionals to buy and sell materials and services, and showcase their talent to a global audience. Adobe also intends to continue operating Fotolia as a standalone service, with access allowed to anyone.
“The purchase of Fotolia will reinforce Creative Cloud's role as the premier destination for creative people,” said David Wadhwani, senior vice president of Digital Media at Adobe. “Creative Cloud has long been the creative community’s preferred place to access images, videos, sources and creative talent through critical creative services such as those provided by Fotolia and our new Creative Talent Search capabilities (Creative Talent Search)”.
With more than 3.4 million members, Adobe Creative Cloud has world-leading desktop tools, a variety of companion mobile apps, training content, creative services and materials, and immediate access to a dynamic community. Creative Cloud has transformed the way creative professionals find inspiration and deliver their best work — and the value of Creative Cloud continues to grow through product updates and new features like Creative Talent Search. Upon completion of the purchase, Adobe expects to integrate the provision and purchase of stored assets with Creative Cloud.
Founded in 2004, with offices in New York, Paris and Berlin, Fotolia is a privately held company owned by Kohlberg Kravis Roberts & Co. LP, TA Associates and Management. Fotolia has operations in 23 countries and websites in 14 languages.
The transaction, which is expected to close in the second half of Adobe's fiscal 2015 first quarter, is subject to certain regulatory approvals and customary closing conditions. The potential financial impact to Adobe from this transaction is not reflected in the previously presented financial targets or the new targets disclosed as part of Adobe's financial results. Until the transaction is completed, each company will continue to operate independently. Upon completion, Fotolia CEO Oleg Tscheltzoff will continue to lead the Fotolia team as part of Adobe's Digital Media segment.
“The purchase of Fotolia will reinforce Creative Cloud's role as the premier destination for creative people,” said David Wadhwani, senior vice president of Digital Media at Adobe. “Creative Cloud has long been the creative community’s preferred place to access images, videos, sources and creative talent through critical creative services such as those provided by Fotolia and our new Creative Talent Search capabilities (Creative Talent Search)”.
With more than 3.4 million members, Adobe Creative Cloud has world-leading desktop tools, a variety of companion mobile apps, training content, creative services and materials, and immediate access to a dynamic community. Creative Cloud has transformed the way creative professionals find inspiration and deliver their best work — and the value of Creative Cloud continues to grow through product updates and new features like Creative Talent Search. Upon completion of the purchase, Adobe expects to integrate the provision and purchase of stored assets with Creative Cloud.
Founded in 2004, with offices in New York, Paris and Berlin, Fotolia is a privately held company owned by Kohlberg Kravis Roberts & Co. LP, TA Associates and Management. Fotolia has operations in 23 countries and websites in 14 languages.
The transaction, which is expected to close in the second half of Adobe's fiscal 2015 first quarter, is subject to certain regulatory approvals and customary closing conditions. The potential financial impact to Adobe from this transaction is not reflected in the previously presented financial targets or the new targets disclosed as part of Adobe's financial results. Until the transaction is completed, each company will continue to operate independently. Upon completion, Fotolia CEO Oleg Tscheltzoff will continue to lead the Fotolia team as part of Adobe's Digital Media segment.
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