If you want to know how to keep a secret, bury it in a quarterly earnings report. That’s how much of the world learned that Adobe has entered into a definitive agreement to acquire privately-held Fotolia, a leading marketplace for stock content, for approximately $800 million.
'One Stop Shop for Creatives,' One Step Closer
The purchase comes at a sweet time for Adobe’s Creative Cloud team whose subscriptions grew by more than two million to 3.454 million during the 2014 fiscal year. Though Adobe plans to continue to operate Fotolia as a standalone stock service, accessible to anyone, it will also be integrated into the Adobe Creative Cloud, giving its members access to more than 34 million videos and images, thus making the entire design process nearly seamless.
But that’s not the only win Fotolia brings to Adobe. There’s also its large community of artists, graphic designers that submit tens of thousands of images, illustrations and videos to the site each day.
Given that David Wadhwani, Adobe’s senior vice president and general manager, Digital Media Business Unit, has said that he wants Adobe to become the “one-stop shop for creatives,” he just gained access to a global pool of vetted talent.