Adobe has acquired Fotolia, a popular marketplace for stock photography and video. The price being mentioned is said to be in the region of $800 million in cash. Adobe’s idea behind this acquisition is to merge the service with Adobe’s Creative Cloud and make it easier for the users to use and buy over 34 million images and videos that are currently in Fotolia’s portfolio.
According to Adobe’s senior vice president for Digital Media, Dave Wadhwani, “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 images, videos, fonts and creative talent, through critical creative services like Fotolia and our new Creative Talent Search capabilities.”
It is unclear how the existing users of Creative Cloud will be able to access Fotolia, but reports are emerging that state Cloud’s subscription could include Fotolia in the future. Adobe has also stressed on the fact that Fotolia will continue to function as a standalone service and will remain open to everyone.
Fotolia was founded in 2004 and is owned by Kohlberg Kravis Roberts & Co., T.A. Associates and management. It has offices in New York, Paris and Berlin. Adobe expects to wrap up the acquisition by early 2015.