Photoshop maker Adobe to buy video ad firm TubeMogul for $540 million

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[November 10, 2016] (Reuters) - Photoshop software maker Adobe Systems Inc said on Thursday it would buy advertising company TubeMogul Inc for about $540 million, giving it a bigger presence in the rapidly growing online video market.

Adobe company logos are seen in this picture illustration taken in Vienna July 9, 2013. Picture taken July 9, 2013. REUTERS/Leonhard Foeger/File Photo
 

Adobe's offer of $14 per share in cash represents an 82.5 percent premium to TubeMogul's Wednesday close.

(Reporting by Rishika Sadam in Bengaluru; Editing by Sai Sachin Ravikumar)

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