Adobe Plans to Acquire Video-Collaboration Software Company Frame.io
Adobe said that they planned to acquire a software company with cloud-based software. It is Frame.io, that enables more people to install video inputs, for $ 1.275 billion.
The move could lead to the development of Creative Cloud software. Here Adobe earns the bulk of its revenue. Earlier the company has strengthened Creative Cloud with acquisitions e.g., the Fotolia stock market and Behance social media site.
Frame.io could upgrade Adobe's Premiere Pro and After Effects applications for video editing with the power of review and approval, Adobe said in a statement. The technology can also integrate into the Photoshop editing app, says Adobe.
In the last quarter, 60% of Adobe revenue came from Creative Cloud. Creative Cloud revenue has increased by about 24% year over year. Adobe has raised the price of Cloud Cloud, which points to enhancements over the years. At the same time, Adobe aims to add Cloud subscribers.
The company established the framework in 2014. It is based in New York, with more than 250 employees listed on LinkedIn. These Investors are SignalFire, Shasta Ventures, FirstMark Capital, Insight Partners, and Accel. Frame customers include Activision, Google, LinkedIn, Netflix, Turner, and Vice, according to the original website.
Key Points
- Adobe has said it will buy software company Frame.io for more than $ 1 billion.
- Adobe said Frame.io could expand its existing video editing programs with review and approval features.
- io has many prominent media clients, including Netflix, Turner, and Vice.
