Adobe to Buy Fotolia for $800M, KKR and TA Associates to Sell
December 15, 2014
KKR has announced an agreement for the sale of Fotolia to Adobe (NASDAQ: ADBE) for a total enterprise value of $800 million. A global marketplace for royalty-free images, graphics and HD videos, Fotolia houses over 34 million digital images and videos. In June 2012, KKR made an investment from its third European fund to acquire a 50% stake in Fotolia alongside management and TA Associates, the latter of which had previously backed the company in 2009. Since the 2012 investment, Fotolia almost doubled its workforce, grew its revenue base and launched in more than 10 new countries. It is rumored KKR stands to make about 2x its 2012 investment.