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April 18th, 2005, 02:51 PM #1Adobe To Acquire Macromedia In $3.4B Deal
Adobe Systems, one of the world's largest providers of document design software, will acquire Macromedia in an all-stock transaction valued at approximately $3.4 billion, the companies announced Monday.
Adobe's software includes the popular Acrobat and Photoshop program. San Francisco-based Macromedia makes the Dreamweaver and Flash web-design software.
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 should pave the way for expansion into new markets.
Under terms of the deal, approved by the companies' boards of directors, Macromedia stockholders will receive 0.69 shares of Adobe common stock for every share of their Macromedia common stock. That will result in Macromedia stockholders owning about 18 percent of the combined company when the deal closes.
The transaction, contingent upon the approval of both companies' stockholders, is expected to be complete by the fall. It also requires the approval of federal regulators.
"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," said Bruce Chizen, chief executive officer of Adobe.
Chizen will remain as chief executive of the combined company and Adobe's Shantanu Narayenb will continue as president and chief operating officer. Macromedia CEO Stephen Elop will join Adobe as president of worldwide field operations.
The companies said they are in the midst of developing "integration plans" that will build on their similarities. They made no mention of layoffs.
Adobe employs 3,700 people in offices around the world. It reported revenue of $1.295 billion for fiscal 2003.
"While we anticipate the integration team will identify opportunities for cost savings by the time the acquisition closes, the primary motivation for the two companies' joining is to continue to expand and grow our business into new markets," Chizen said.
Adobe Release: http://www.adobe.com/aboutadobe/invr...acromedia.html
Macromedia Release: http://www.macromedia.com/macromedia...acromedia.html
April 20th, 2005, 06:25 PM #2
Talk about killer app...Luke
Have you promoted your brand name today?
April 22nd, 2005, 04:46 PM #3
3,700 employees and a reported revenue of $1.295 billion for fiscal 2003
That is GOOD.. Most companies I now that generate that kind of revenue have 10 - 15,000 employees or MORE...
"AdobeMedia" Developer Tools..?? Can't WAIT...
April 22nd, 2005, 05:03 PM #4
- Join Date
- January 18th, 2005
Macromedia just sent out invites to their affiliate program... I think i will stay away until they sort this out.
April 22nd, 2005, 06:31 PM #5
Originally Posted by darkstar7
- Join Date
- January 18th, 2005
- Los Angeles, California
Now that they have no serious competition why bother to keep innovating?
What are we gonna do, ditch their products for WordPad?
They know this.
Let's pray they don't see this as an opportunity to become Microsoft Part II: The Sequel.
There's always the outside chance that the FTC will recognize Macrobe as a monopoly and put a stop to this, but in the current corporate-interests-over-people environment I'm not holding my breath....Richard Gaskin
Developer of WebMerge: Publish any data feed on any site
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