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Thursday, December 11, 2014

Adobe to purchase stock photography company, revenue rises 3 pct, (NASDAQ: ADBE)

Photoshop maker Adobe Systems Inc said it would purchase stock photography company Fotolia for $800 million and reported a 3 percent rise in quarterly revenue, helped by higher subscription sales of its Creative Cloud suite. Adobe's net income rose to $73.3 million, or 14 cents per share, in the fourth quarter ended Nov. 28, from $65.3 million, or 13 cents per share, a year earlier.

Adobe Systems Incorporated (Adobe) is a diversified software company. Shares of ADBE fell by 0.16% or $-0.11/share to $69.74. In the past year, the shares have traded as low as $53.93 and as high as $74.69. On average, 3288210 shares of ADBE exchange hands on a given day and today's volume is recorded at 4291702.