Profits up 119% at Irish Adobe subsidiary last year

Adobe Systems Software Ireland recorded an operating profit of $227 million after paying $11 billion for intellectual property from its California-based parent

Adobe is best known for its digital software products that include Photoshop, Acrobat, Dreamweaver and Illustrator. Picture: Getty

Profits at an Irish subsidiary of Adobe, the global software giant, surged by 119 per cent over the last year after the company acquired $11 billion (€9.34 billion) of intellectual property rights from its parent company.

Accounts filed by the company, one of two Irish Adobe subsidiaries, show that turnover rose by 17 per cent to $5.32 billion (€4.54 billion) for the year ended on November 27, 2020.

Adobe Systems Software Ireland (ASSI), which employs ...