(Bloomberg) -- Adobe Inc. will acquire U.K. social media marketing startup ContentCal in a deal that aims to give users, particularly small businesses, new services for posting content across a variety of channels.
The San Jose, California-based software company announced the deal in a blog post without disclosing terms, adding that the transaction was expected to close in the first quarter of fiscal-year 2022.
Bloomberg News previously reported that Adobe was near a deal to purchase ContentCal for more than $100 million, according to people familiar with the matter, who asked not to be identified because the information is private. The purchase is an all-cash deal, one of the people said.
ContentCal offers an all-in-one platform for creating and publishing content on social media platforms such as Twitter and Facebook. It also offers other services including performance tracking. The startup has raised about $14 million in total funding from investors including Fuel Ventures and Guinness Asset Management, according to data provider PitchBook.
Representatives for Adobe and ContentCal didn't immediately respond to requests for comment on the terms of the acquisition.
The purchase comes at a time when Adobe Chief Executive Officer Shantanu Narayen is pitching new creative software tools to continue the company's steady 20% revenue growth. As part of that effort, Adobe agreed in August to buy video collaboration startup Frame.io for $1.3 billion.
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