Press Release Source: Adobe Systems Incorporated On Monday October 3, 2011, 12:48 pm
LOS ANGELES--(BUSINESS WIRE)-- At its MAX 2011 technology conference, Adobe Systems Incorporated (Nasdaq:ADBE - News) today announced that it has acquired privately held Typekit Inc., a leader in the delivery of hosted, high-quality fonts for use on websites. Available as a subscription-based cloud service, Typekit’s vast font library gives designers and developers creative license to deliver beautiful type that enhances the Web experience. Today, more than 250,000 customers use Typekit, including some of the largest sites on the Web, such as The New York Times, Condé Nast, IGN and many others.
Typekit fonts will be offered as a standalone service and over time as part of Adobe® Creative Cloud. A major new initiative from the company, Adobe Creative Cloud was announced – along with six Adobe Touch Apps for Android and iOS tablet devices – by Kevin Lynch, chief technology officer of Adobe, during his keynote presentation at MAX this morning (see separate press releases).
Shares of Adobe (ADBE) are down $2.81, or 9%, at $27.61 after the company this evening said it will restructure its business, including cutting 750 full-time jobs, mostly in North America and Europe.
Adobe plans to focus on and invest “aggressively” in “digital media” and “digital marketing,” it said. It will invest less in development of products for enterprise customers, the company said. That will reduce 2012 revenue growth by 4 to 5 percentage points, the company said, for total revenue growth of 4% to 6%.
Hackers linked to the Russian government used previously unknown flaws in Microsoft Corp.’s Windows and Adobe Systems Inc.’s Flash to try to infiltrate discussions on sanctions policy, a person familiar with the attack said.
The spying scheme was detected on April 13 by U.S. cybersecurity firm FireEye Inc. and targeted an agency of an overseas government that was in discussions with the U.S. about sanctions policy. The attack was halted before the group extracted any data, the company said in a blog post Saturday.
The hacking group, which FireEye calls Advanced Persistent Threat 28, or APT28, is known for advanced cyber-attacks and its use of malware known as Sofacy. In this case, it took the unusual step of using two so-called zero-day exploits to try to infiltrate the computer systems of its victim in a highly sophisticated attack, FireEye said.
“While there is not yet a patch available for the Windows vulnerability, updating Adobe Flash to the latest version will render this in-the-wild exploit innocuous,” FireEye said in a blog post.
Adobe has created a fix for the vulnerability while Microsoft is working on a patch, FireEye said. The flaw does not apply to Windows 8 and later versions.