8/19, 10:32 PM (Source: TeleTrader)
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Adobe to buy for $1.3 billion

Adobe announced on Thursday that it entered a definitive agreement to acquire the cloud-based video collaboration platform for $1.28 billion.

"With this acquisition, we're welcoming an incredible customer-oriented team and adding's cloud-native workflow capabilities to make the creative process more collaborative, productive, and efficient to further unleash creativity for all," Adobe Chief Product Officer Scott Belsky said in the press release.

The transaction is expected to close in Q4 this year and is subject to customary regulatory approval.

Baha Breaking the News (BBN) / MD