January 4, 1999 5:35 PM PST
Adobe acquires GoLive
GoLive, of Menlo Park, California, makes the GoLive CyberStudio, a professional Web design application, and the GoLive Web Publishing System. Adobe's product line includes its Photoshop, ImageReady, ImageStyler, and Illustrator imaging software, which are also used in Web site design.
Adobe executives announced the acquisition today after the market closed. The terms of the deal were not disclosed.
"GoLive CyberStudio 3 includes everything Web authors need to design and produce fully dynamic Web sites, including the most demanding e-commerce sites, without complex multimedia programming," according to a statement from the companies today.
"The two [product lines] complement each other nicely," said Bruce Chizen, executive vice president of worldwide product marketing for Adobe, in the conference call announcing the acquisition today.
Adobe's fourth quarter earnings rose 7 percent, the company announced last month, due in part to increased sales of its Illustrator software. The company reported a quarterly profit of $50.3 million, or 78 cents per share, compared with a profit including investment gains of $46.8 million, or 64 cents per share, a year ago.
All 60 GoLive employees will be retained by Adobe, according to the companies.
"We will pick up substantially all of that group," said Bryan Lamkin, vice president of professional product marketing. "It's an aggressive, fast moving team."