(Bloomberg) -- During five days in August 2011, Adobe Systems Inc.’s top executives sequestered themselves in an 18th-floor boardroom atop the software maker’s Silicon Valley headquarters to address an emerging threat: the cloud.

Customers in growing numbers were opting for upstart competitors’ software, delivered instantly over the Internet and slowing purchases of Adobe’s programs. That jeopardized Adobe’s leadership in desktop publishing with products such as Photoshop, Illustrator and InDesign.

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