Adobe Acquires Macromedia
Jesus! I'm in shock... I'm just posting the basic press story. More details available at Adobe's Web Site. I'll post more on this later this week, but in brief, this is a huge deal, creating a competitor that Microsoft will take very seriously.
Here's the basic story:
April 18, 2005
Adobe to Buy Macromedia in $3.4 Billion Stock Deal
By TERENCE NEILAN
The document-design software company Adobe Systems Inc. said today that it had agreed to acquire the multimedia software firm Macromedia Inc. for about $3.4 billion in stock.
Adobe, which is based in San Jose, Calif., and is best known for its Acrobat document sharing software, said the deal is expected to close this fall.
"Customers are calling for integrated software solutions that enable them to create, manage and deliver a wide range of compelling content and applications - from documents and images to audio and video," Bruce Chizen, chief executive of Adobe, said in a statement.
"By combining our powerful development, authoring and collaboration software - along with the complementary functionality of PDF and Flash - Adobe has the opportunity to bring this vision to life with an industry-defining technology platform."
Under the deal, approved by the boards of both companies, which are traded on the Nasdaq market, Macromedia stockholders will receive 0.69 shares of Adobe common stock for every share of their Macromedia common stock, worth $41.86 at Adobe's closing price of $60.66 on Friday, for each Macromedia share. That will result in Macromedia stockholders owning about 18 percent of the combined company when the deal closes.
Besides Acrobat, Adobe's software also includes the Photoshop program. Macromedia, based in San Francisco. makes the Dreamweaver and Flash web-design software used mainly in digital video production.
Combining the two businesses, the companies said, will allow them to create more powerful software programs that can be used across multiple operating systems, which they said should pave the way for expansion into new markets.
Here's the basic story:
April 18, 2005
Adobe to Buy Macromedia in $3.4 Billion Stock Deal
By TERENCE NEILAN
The document-design software company Adobe Systems Inc. said today that it had agreed to acquire the multimedia software firm Macromedia Inc. for about $3.4 billion in stock.
Adobe, which is based in San Jose, Calif., and is best known for its Acrobat document sharing software, said the deal is expected to close this fall.
"Customers are calling for integrated software solutions that enable them to create, manage and deliver a wide range of compelling content and applications - from documents and images to audio and video," Bruce Chizen, chief executive of Adobe, said in a statement.
"By combining our powerful development, authoring and collaboration software - along with the complementary functionality of PDF and Flash - Adobe has the opportunity to bring this vision to life with an industry-defining technology platform."
Under the deal, approved by the boards of both companies, which are traded on the Nasdaq market, Macromedia stockholders will receive 0.69 shares of Adobe common stock for every share of their Macromedia common stock, worth $41.86 at Adobe's closing price of $60.66 on Friday, for each Macromedia share. That will result in Macromedia stockholders owning about 18 percent of the combined company when the deal closes.
Besides Acrobat, Adobe's software also includes the Photoshop program. Macromedia, based in San Francisco. makes the Dreamweaver and Flash web-design software used mainly in digital video production.
Combining the two businesses, the companies said, will allow them to create more powerful software programs that can be used across multiple operating systems, which they said should pave the way for expansion into new markets.
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