(Bloomberg) -- Adobe Inc. is nearing a deal to acquire U.K. social media marketing startup ContentCal for more than $100 million, according to people familiar with the matter.
The San Jose, California-based software company could announce the transaction as soon as Wednesday, the people said, asking 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.
The acquisition 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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