updated 12:30 pm EDT, Thu October 19, 2006
Adobe buys Serious Magic
Adobe today announced its acquisition of Serious Magic, a maker of video software and communications tools for creative professionals, businesses, consumers, and educational institutions. Adobe hopes the move will strengthen its position in the video software realm via Serious Magic's DV Rack -- which extends direct-to-disk recording and monitoring into the field -- alongside the company's Visual Communicator and Vlog It products. "The huge momentum behind Flash video, which is powering everything from online TV shows to YouTube and MySpace, is turbo-charging Adobe's 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 Magic's products, adding that future versions of Adobe's video solutions will include Serious Magic technologies and software. Terms of the acquisition were not disclosed. Mark Randall -- CEO of Serious Magic and 20-year video industry veteran -- will join Adobe as chief strategist, Dynamic Media.
Serious Magic is a privately held company headquartered in Folsom, California and currently ships several products which include DV Rack, ULTRA 2, Ovation, Visual Communicator, and Vlog It. Adobe believes the acquisition will not have a material financial impact on the company.