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| Adobe buy out Macromedia for $3.4 billion |
| Monday, April 18, 2005 at 14:15 by Kathleen Hill |
Adobe Systems Inc. has announced today that it will acquire Macromedia Inc. in an all-stock transaction valued at $3.4 billion.
Under the terms of the agreement, which has been approved by both boards of directors, Macromedia stockholders will receive, at a fixed exchange ratio, $0.69 shares of Adobe common stock for every share of Macromedia common stock in a tax-free exchange. Based on Adobe's and Macromedia's closing prices on Friday April 15, 2005, this represents a price of $41.86 per share of Macromedia common stock.
Bruce Chizen, CEO of Adobe said,
"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. 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."
Hot on the heels of this announcement, Adobe published their Q2 results. In its business update, Adobe stated that their second quarter revenue was in excess of $495 million.
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| Noooooooooooo!!
Cant do that !
Not because I like Macromedia(god forbid) but because I hate Adobe!
And, what I think counts, of course.
*sigh* |
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| So that's one firm owning the rights to two major products that are in use on the Internet, Flash and PDF.
Wonder if Microsoft were interested ? |
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| How long until Google buys both of them? lol |
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| Google announce their last quarter earnings on Thursday. It'll be an interesting read ! |
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| I can see the day when Google acquires Microsoft... |
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