Adobe Systems Inc, the Photoshop maker, got an increase for its shares. This increase is unlike those small increase of other companies. The Photoshop maker soared to lifetime highs just a day after they revealed their plans on purchasing Fotolia, a stock photography company, for as much as $800 million and after the number of Creative Cloud subscribers jumped.
The stock of Adobe Systems Inc rose by more than ten percent. It now trades at $76.70 for every share as of 1733 GMT as brokerages issued raise price targets.
According to Adobe, they would merge the stock photography company with Creative Cloud for the purpose of raising the average revenue of Creative Cloud for every user. On the other hand, the Fotolia will still remain as a standalone service.
According to Mark Garett, who is the Chief Financial Officer of the company, Adobe Systems Inc is getting bigger and bigger. This is not an exaggeration of their status. It is really what is happening right now. The Chief Financial Officer also added that they are now thinking about fighting piracy, which is the reason why Adobe is losing about a third of its revenue, by introducing a feature that will only be available to users who will log in via Creative Cloud.
