Adobe buys Macromedia!!!
oh crap... I'm not personally too happy about this given Adobe's stance on non specialization of software for one platform or another (take advantage of specific OS calls, etc). I just hope they dont butcher Flash.
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Market Pulse: Adobe to buy Macromedia for $3.4 billion, upbeat on Q2
Monday April 18, 3:28 am ET
By Emily Church
LONDON (MarketWatch) -- Graphics software developer Adobe Systems on Monday said it has an agreement to acquire Macromedia , an Internet and media content applications group, in an all-stock deal valued at $3.4 billion. Terms set a 25% premium for Macromedia shares on Friday, with Macromedia holders to receive 0.69 shares of Adobe for every share of Macromedia. The terms were approved by both boards of directors. Adobe Chief Executive Bruce Chizen will remain CEO; the deal is expected to close in the fall of this year. No cost-savings details or estimates were detailed. Adobe, separately, said it expects earnings and sales in its June 3-ending quarter "toward the high end" of its targeted range amid "strong demand of Adobe Acrobat." Adobe had set the range at revenue of $475 to $495 million and earnings per share of 51 cents to 55 cents. Adobe said it's "experiencing solid demand in all of its major geographic markets."
Market Pulse: Adobe to buy Macromedia for $3.4 billion, upbeat on Q2
Monday April 18, 3:28 am ET
By Emily Church
LONDON (MarketWatch) -- Graphics software developer Adobe Systems on Monday said it has an agreement to acquire Macromedia , an Internet and media content applications group, in an all-stock deal valued at $3.4 billion. Terms set a 25% premium for Macromedia shares on Friday, with Macromedia holders to receive 0.69 shares of Adobe for every share of Macromedia. The terms were approved by both boards of directors. Adobe Chief Executive Bruce Chizen will remain CEO; the deal is expected to close in the fall of this year. No cost-savings details or estimates were detailed. Adobe, separately, said it expects earnings and sales in its June 3-ending quarter "toward the high end" of its targeted range amid "strong demand of Adobe Acrobat." Adobe had set the range at revenue of $475 to $495 million and earnings per share of 51 cents to 55 cents. Adobe said it's "experiencing solid demand in all of its major geographic markets."
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