Reprinted from an Adobe press release:
SAN JOSE, Calif. Oct. 19, 2006 Adobe Systems Incorporated (Nasdaq:ADBE) today announced it has acquired Serious Magic Inc., maker of video software and communications tools for creative professional, business, consumer, and education markets. With Serious Magic solutions such as DV Rack extending direct-to-disk recording and monitoring into the field and Visual Communicator and Vlog It delivering the power of video communication to general business users and casual bloggers, the acquisition strengthens Adobe's leadership position in video software — for both video professionals and consumers.
"The huge momentum behind Flash Video, which is powering everything from online TV shows to YouTube and MySpace, is turbo-charging Adobes video business, said John Loiacono, senior vice president of Creative Solutions Business Unit at Adobe. "The purchase of Serious Magic accelerates our vision to make, not just video but all dynamic media, an even more ubiquitous communications vehicle, whether you're delivering content for the broadcast market, over the web or on mobile devices.
Adobe plans to continue to sell Serious Magics products and future versions of Adobes video solutions will include Serious Magic technologies and software. Terms of the acquisition were not disclosed.
"Adobe video products and Flash Video are creating new ways to integrate the moving image into almost every imaginable communication project, said Mark Randall, CEO and Chief Magician at Serious Magic. "Were proud of the cutting-edge work we've done at Serious Magic and believe that teaming with Adobe will be a truly magical combination enabling our award-winning technologies to have a lasting impact on video communications.
Serious Magic is a privately held company headquartered in Folsom, California and currently ships several widely-acclaimed products, including DV Rack, ULTRA 2, Ovation, Visual Communicator and Vlog It. Adobe believes this acquisition will not have a material financial impact on the company.