Stock Photography Site Fotolia acquired by Adobe Systems

2014-12-12
Published : Dec-2014

Adobe announced that it has brought Fotolia, the popular marketplace for stock photography and video for around $800 million in cash.

Abode wants to integrate the service into Adobe’s Creative Cloud software, making it easier for members of Creative Cloud to use and purchase more than 34 million videos and images in the company’s portfolio.

Adobe’s senior vice president for Digital Media, David Wadhwani said that the acquisition of Fotolia will reinforce Creative Cloud’s role as the preeminent destination for creatives. Creative Cloud is becoming the go-to marketplace for the creative community to access talent, images, videos and fonts, through critical creative services such as Fotolia and their new Creative Talent Search capabilities.

According to the company, currently, Creative Cloud of Adobe has more than 3.4 million paid members and it expects that to reach 5.9 billion by the end of next year. Company officials said that New Creative Cloud subscriptions are an even mix of single-app subscribers and complete suite subscribers. However, it is still unclear how subscribers of Adobe will be able to access content of Fotolia.

Adobe said that Fotolia will definitely continue as a standalone service that will remain open to anyone – whether they have a Creative Cloud subscription or not.

When the transaction closes, Oleg Tscheltzoff, Fotolia’s Chief Executive, will continue to lead the team of Fotolia as part of the digital media business of Adobe.

Fotolia which was founded in 2004 has 130 employees with offices in Berlin, New York and Paris. Fotolia is owned by TA Associates and Kohlberg Kravis Roberts & Co. The deal is expected to close in the first quarter of 2015. According to the company, following the acquisition, it will start integrating Fotolia’s content into its products.

Fotolia was valued at $455 million in June 2012, and in the fiscal year ending that December, the revenue was $87 million.

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