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Adobe, RealNetworks team
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October 31, 2000: 3:11 p.m. ET
Software publisher also pairs with Nokia, others in new strategy
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NEW YORK (CNNfn) - Graphic design software maker Adobe Systems Inc. said Tuesday it has paired with RealNetworks to develop streaming media publishing technologies.
The deal is part of Adobe's broader strategy dubbed the "third wave of network publishing," which will enable Internet authors to create text, audio, visual, and animated content, regardless of the platform used.
Additional technology companies participating in the Web publishing initiative include Nokia (NOK: Research, Estimates), Hewlett-Packard (HWP: Research, Estimates), Interwoven, and Art Technology Group.
Financial terms of the alliances were not disclosed.
 Under the RealNetworks (RNWK: Research, Estimates) agreement with Adobe, the companies plan to produce streaming media products that allow Web publishers to create media content and integrate it with RealPlayer.
The Nokia pact calls for the companies to develop an authoring technology that lets Web develops author, preview, and manage content created for wireless devices.
"Leveraging the Internet, Network publishing ... creates visually rich, meaningful content that is managed and delivered reliably wherever the user wants, whether it's a Web page, printer, cell phone, handheld device PC or Internet appliance," said Bruce Chizon, president of Adobe, in a statement.
Shares of Adobe (ADBE: Research, Estimates), the third largest PC software company in the United States, rose $5.56, or 8 percent, to $75.19 in afternoon trading.
Ahead of the announcement, Robertson Stephens analysts Lowell Singer and Sasa Zorovic began coverage of Adobe on Monday, with a "buy" rating.
"Adobe ... is a leader in all the market segments in which it operates," said the analysts in a research note. ""In our opinion, Adobe is well-positioned to benefit from several significant trends including ongoing media convergence and rapid expansion of various types of communication." 
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Adobe
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