Adobe Systems Inc will be aggressive with small acquisitions this year as the global economic crisis has made valuations increasingly attractive, Chief Executive Shantanu Narayen said.
“There are small technology companies where you get some great technology and great people... we will continue to be aggressive at looking at them,” Narayen said in an interview on the sidelines of the World Economic Forum in Davos, Switzerland.
“A lot of companies are finding their valuations reduced or finding it hard to raise capital in these economic times,” Narayen said. “But we're not bottom feeders, we're looking for interesting companies that are going to help drive the future.”
Adobe, the maker of Acrobat Reader, Flash and Photoshop software, announced 600 job cuts and reduced its revenue forecast on December 3, blaming weaker-than-expected demand for its new Creative Suite 4 family of products, which began shipping in the quarter.
The company has no plans for any further layoffs, Narayen said.
CS4 is a package of tools for graphic designers that includes Photoshop photo-editing software, 3-D computer drawing program Illustrator, Dreamweaver for designing Web sites and Soundbooth for audio editing. (Reuters)