Adobe Systems Buys Serious Magic
October 19, 2006
San Jose, CA - Adobe Systems Incorporated (Nasdaq:ADBE) today announced it has acquired Serious Magic, Inc. (Folsom, CA). Terms of the deal were not disclosed. According to Adobe, the acquisition is intended to reinforce the company’s vision of providing the very latest in cutting-edge video capabilities for both video professionals and consumers.
Abobe will gain Serious Magic software products, including DV Rack, Visual Communicator, Ultra 2, Vlog It™ and Ovation. "The huge momentum behind Flash® Video, which is powering everything from online TV shows to YouTube and MySpace, is turbo-charging Adobe's video business," said John Loiacono, senior vice president of Creative Solutions Business Unit at Adobe. "The purchase of Serious Magic accelerates our vision to make, not just video but all dynamic media, an even more ubiquitous communications vehicle, whether you're delivering content for the broadcast market, over the web or on mobile devices."
Adobe plans to continue to sell Serious Magic's products and future versions of Adobe's video solutions are expected to include Serious Magic technologies and software.
“Adobe video products and Flash Video are creating new ways to integrate the moving image into almost every imaginable communication project,” said Serious Magic CEO Mark Randall.
“We're proud of the cutting-edge work we've done at Serious Magic and believe that teaming with Adobe will be a truly magical combination enabling our award-winning technologies to have a lasting impact on video communications.” Randall, a 20-year video industry veteran, will join Adobe as chief strategist, Dynamic Media.
For more information visit Adobe Systems and Serious Magic. Industry News is a service of WEVA International.
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