Adobe Systems Inc. (NasdaqGS:ADBE) entered into a definitive agreement to acquire Fotolia LLC from Oleg Tscheltzoff, TA Associates Management, L.P. and KKR & Co. L.P. (NYSE:KKR) for $800 million in cash on December 11, 2014. Adobe plans to integrate Fotolia into Adobe Creative Cloud and will continue to operate Fotolia as a standalone stock service.

Upon closing, Fotolia Chief Executive Officer, Oleg Tscheltzoff, will continue to lead the Fotolia team as part of Adobe's Digital Media business. The transaction is subject to certain regulatory approvals and is expected to close in the second half of Adobe's fiscal quarter 2015. Mark Pflug, Jona Lundborg, Derek Stueben, Nancy Mehlman, Jason Vollbracht, David Rubinsky, Jeannine McSweeney, Brittany McCants, Christopher Bell, Lucy Jenkins, Marcela Robledo, David Vann and Tara Kelly of Simpson Thacher & Bartlett LLP acted as legal advisor to TA Associates Management, KKR and Fotolia.

Adam Small, John LeClaire, Howard Cubell, Jim Mattus and Grant Manning of Goodwin Procter LLP acted as legal advisor to KKR & Co. L.P., TA Associates and Oleg Tscheltzoff. Ryne Saxe, John Brockland, Edric Itchon, Alexa Clinton, Amy Rubin, Joseph Verdesca, Jane Ross, Gabriel Shapiro, Lauren Springer, Luis Gonzalez, Verity Rees, Brian Hamano, Gabriel Gershowitz, Helyn Goldstein, Kimberly Blanchard, Eric Remijan, Douglas Nave, Vadim Brusser, Nafees Saeed and John Scribner of Weil, Gotshal & Manges LLP acted as legal advisor to Adobe.