Adobe CEO Bruce Chizen is not planning any more big acquisitions for his company.

Chizen confirmed that Adobe would be using excess cash to buy back stock rather than spend it on mergers and acquisitions (M&As).

"The best use of excess cash we think is stock buybacks," he told Reuters. "Our ability to grow is not based on major M&A activity. We will do small M&A, but they tend to be some hundred million dollar deals."

Chizen has been outspoken on his thoughts about Microsoft recently. Earlier this week he stated that Adobe would maintain its lead with Flash, despite competition from Microsoft, which has unveiled its own online media platform Silverlight. Chizen did note however that "Microsoft is a $50 billion monopolist who's in the software business. I take them very seriously."