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Adobe Systems has signed a definitive agreement to acquire multimedia company
Macromedia Inc for $3.4 billion in an all-stock transaction. California-based
Adobe said in a statement that it would pay Macromedia shareholders 0.69 shares
of its common stock at a fixed exchange ratio.
The deal is slated to give Adobe an opportunity to drive an industry-defining
technology platform, thereby delivering rich content and applications across
wide range of devices and operating systems. "The combination of Adobe and
Macromedia strengthens our mission of helping people and organizations
communicate better," said the press release from Adobe.
 Adobe
is the provider of Acrobat and Photoshop software. By adding Macromedia's
Flash Web design programs the company intends to drive innovations that can
change the ways of interacting with information.
Macromedia's Flash Player displays moving images and sound on Web pages.
According to the company's website, Flash Player is touted to have been
installed on more than 97% of the Internet-enabled desktops and many popular
devices.
CYBERMEDIA NEWS
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