It's also important to understand the uplift that an established company can have on sales. * Adobe has a subscription model in place, with a large number of c

It's also important to understand the uplift that an established company can have on sales. * Adobe has a subscription model in place, with a large number of customers * Adobe has bundles already, and this could allow them to expand some of those bundles or introduce new bundles * Adobe may be able to (successfully) charge more for the same product, because they're a bigger company that charges more already for other stuff I list these items because I got to witness an acquisition of a product company first hand (I was the founder and CEO) and the acquiring company was able to derive on the order of 10x revenue from the acquired product, vis-a-vis the trailing 12 months before acquisition. $20 billion is a steep price, but if the product fills an important gap, if aggregate demand (and fit with the other products) is strong, and if Adobe can drive sales effectively, then it is possible that the acquisition could pay off quickly. On the other hand, I've seen quite a few failed acquisitions that will never pay for themselves; nothing here is a given.