Adobe Systems Incorporated (Nasdaq:ADBE) announced today that it will acquire Virtual Ubiquity and its online word processor, Buzzword.

The acquisition furthers Adobe's commitment to foster an ecosystem for rich Internet application (RIA) development built on Adobe AIR.
Separately, Adobe added a new file sharing service to its current online document services. Codenamed “Share,” the beta service will make it easier than ever for people to share, publish and organize documents online. Buzzword, a nice looking online word processor, enables individuals to work together to create quality, page perfect documents. Because it was built with Adobe Flex™ software and runs in the Adobe Flash™ Player, Buzzword enables greater document quality, outstanding typography, page layout controls, and robust support for integrated graphics, regardless of the browser or device.

The founders of Virtual Ubiquity will be joining Adobe, bringing with them a wealth of knowledge and experience in online document collaboration. The financial details of the deal have not been disclosed.
Via Adobe press-release.