Adobe Systems has acquired Virtual Ubiquity, the parent company of the Buzzword web-based word processing software.

Adobe Systems Incorporated (Nasdaq:ADBE) today announced that it has signed a definitive agreement to acquire Virtual Ubiquity and its ground-breaking online word processor, Buzzword. The acquisition furthers Adobe’s commitment to foster a vibrant ecosystem for rich Internet application (RIA) development that delivers breakthrough experiences built on Adobe AIR. Separately, Adobe added a new file sharing service to its current online document services. Codenamed “Share,” the beta service will make it easier than ever for people to share, publish and organize documents online.

Virtual Ubiquity is based in Waltham, Massachusetts. The acquisition is subject to customary closing conditions and is expected to close by the end of November 2007. The addition of Virtual Ubiquity is not expected to have a material impact to Adobe revenue and earnings in fiscal year 2007.

Virtual Ubiquity had taken funding from Adobe’s venture capital group. At this point there is no disclosure on the size of the buy-out.

One may ask why? Well, Buzzword is built using Adobe Flex and runs in the Adobe Flash Player, making it a logical fit for the software company. Additionally, users can use Buzzword both online and offline using Adobe AIR. Much like Google Docs and Zoho, Buzzword also includes features for collaboration and sharing documents.

Buzzword, an elegant online word processor, enables individuals to work together to create high quality, page perfect documents. Because it was built with Adobe Flex™ software and runs in the Adobe Flash™ Player, Buzzword enables greater document quality, outstanding typography, page layout controls, and robust support for integrated graphics, regardless of the browser or device. The application also will run on Adobe® AIR™, offering users a hybrid online/offline experience and the ability to work with both hosted and local documents. The powerful collaboration capabilities in Buzzword enable multiple authors to edit and comment on documents from anywhere, at anytime, while document creators can set permissions that virtually eliminate version control chaos. For more information on the acquisition and access to Buzzword beta software, please visit http://www.adobe.com/go/buzzwordfaq.

Buzzword is a stunning achievement in design. Of all the PC-compatible word processors available — including the desktop dinosaur Microsoft Word — Buzzword is the easiest on the eyes and has the most elegant user interface.

The founders of the company will be joining Adobe as part of the deal.

So, is this an employment through acquisition? It could also be a well planned, funded and executed internal deal in the domain of the PR for Adobe in order to promote, proclaim and popularize its new products as Adobe Flex software, Adobe Flash Player and Adobe AIR, all trademarks owned by Adobe Systems Incorporated.

The deal comes in moment when the company announced the launch of the new Adobe Flash Player.

Via

[ http://www.buzzword.com/ ]
[ http://www.adobe.com/aboutadobe/pressroom…/100107VirtualUbiquity.html ]
[ http://mashable.com/2007/10/01/adobe-buzzword/ ]
[ http://www.adobe.com/products/flashplayer/ ]
[ http://www.adobe.com/go/buzzwordfaq ]
[ http://about.buzzword.com/ ]
[ http://reviews.zdnet.co.uk/software/productivity/0,1000001108,39289750,00.htm ]
[ http://www.thealarmclock.com/mt/archives/2007/10/adobe_buys_web.html ]