Adobe paved the way for digital publishing with its Acrobat product. In addition, they have a near-lock (97% of market share or more) in book design/production software with inDesign. So I think it makes sense and was a smart move for them to pursue this space. I also think that old school, traditional companies (B&N, the big 6 publishers) would rather put their eggs in the basket of an old school, traditional company (Adobe). Kobo, being a start-up, might have gone a different way but I don't know the timing on that. Maybe Adobe DRM was already in place as the standard.