Adobe has entered into a definitive agreement to acquire privately-held Fotolia, a marketplace for royalty-free images and video. The transaction is pegged at roughly $800 million. Fotolia will be integrated into Adobe Creative Cloud, which can now boast of 34 million images and videos. Adobe plans to continue to operate Fotolia as a standalone stock service as well, accessible to everybody. Adobe Creative Cloud has over 3.4 million members says the company.
Founded in 2004, with offices in New York, Paris and Berlin, privately-held Fotolia is owned by Kohlberg Kravis Roberts, TA Associates, and management. Fotolia currently operates in 23 countries and has websites in 14 languages.
The transaction is expected to close in the second half of Adobe’s fiscal Q1 2015.
[Image courtesy: Fotolia]