Aviary is a developer of mobile SDKs (software development kits) that power photo-editing apps on Apple (AAPL) iPhones and Google (GOOG) Android devices. Adobe said the acquisition will accelerate its strategy "to make Creative Cloud a vibrant platform for third-party apps, through a new Creative SDK."
"This is great news for developers because thousands of mobile apps will have the opportunity to become compatible with industry-defining desktop tools like Photoshop CC, as well as new Creative Cloud services," Adobe vice president of Creative Cloud Ecosystem & Behance Scott Belsky said in a statement.
Terms of the acquisition were not disclosed.
TheStreet Ratings team rates ADOBE SYSTEMS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ADOBE SYSTEMS INC (ADBE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share."