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Adobe today announced the release of Photoshop Lightroom 3, the company's professional photo management and manipulation application that serves as a competitor to Apple's Aperture software.

First released as a public beta in October 2009, the final version of Lightroom 3 introduces a completely redesigned performance architecture that better handles growing image libraries and provides an unrivaled raw processing engine with noise reduction and sharpening tools to achieve the highest image quality. The 64-bit capable Lightroom 3 includes new features that optimize workflows and allow images to be shared in creative ways, including support for DSLR video files and tethered shooting on select cameras.

The first beta version of Lightroom 3 was released in late October, with a second beta following in late March.

Adobe Photoshop Lightroom 3 is available immediately and is priced at $299 for the full version and $99 for an upgrade version.

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