Adobe to buy stock photo company; revenues top estimates

BIG BUY: The company said it would integrate Fotolia, a marketplace which offers royalty-free stock photos and video, with Creative Cloud to raise average revenue per user at the business.

Photoshop maker Adobe Systems Inc said it would buy stock photography company Fotolia for US$800mil (RM2.79bil) and reported quarterly revenue above market estimates, helped by a 28% jump in the number of subscribers to its Creative Cloud suite. 

Adobe shares were up nearly 8% in extended trading.