Adobe Strikes A $1.27 Billion Deal With

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On Thursday, Adobe Inc announced that it will buy, a cloud-based video collaboration platform, for a reported $1.27 billion. enables video editors and producers to upload footage in real-time.

Adobe pointed out that has more than one million users in media and entertainment companies, not to mention agencies and global brands. Adobe said the company plans to combine its main creative software products including the video editing tools Premier Pro and After Effects with the review and approval function of

The company noted that the “Acquisition brings together Adobe creative cloud’s leading video capabilities with’s cloud-first workflow functionality to create end-to-end video collaboration platform.”

Following the transaction, which is expected to close in the fourth quarter, co-founder and CEO Emery Wells along with co-founder John Traver will join Adobe.

For more information, read the original story in Reuters.

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