ADBE was up 51 cents, to $37.51, after the announcement of its new Acrobat 8 line and Connect, an online service that lets users videoconference while working together on PDF documents.
Goldman Sachs said the announcement “signals the start of Adobe’s long awaited product cycle” and investors should be confident that shares “can continue to rise” heading toward the even bigger launch of Adobe’s new Creative Suite early next year.
I haven’t had much time with the products, but I was given a quick demo this afternoon, via Connect.
Acrobat has a more streamlined look, with fewer buttons facing the user. Connect seems nifty and it’s available free until the end of the year, when it will start costing $39 a month.
Adobe doesn’t seem too worried about competition from Microsoft, which is offering add-in PDF support to Office and creating a competing document format known as XPS.
The PDF support “is a good thing for PDF and Adobe,” Tom Hale, vice president of Adobe’s knowledge worker business unit, told me. He said it helps to have more people using the format.
As for Microsoft’s new document format, Hale said “XPS is aiming at where PDF was 10 years ago.”
Adobe’s Seattle office made some prominent contributions to the new products, he said, including the control in Connect to start a meeting and its hosted meeting service.