files/pictures/picture-35.jpgAdobe Systems Inc. announced it will purchase Macromedia Inc. for around $3.4 billion in stock. 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 Adobes and Macromedias closing prices on April 15, 2005, this represents a price of $41.86 per share of Macromedia common stock.
The combination of Adobe and Macromedia strengthens Adobes goal of helping people and organizations communicate better, combining Adobes PDF format and Macromedias Flash.
Founded in 1982, Adobe is one of the world's largest software companies, generating annual revenues exceeding $1.2 billion. More than 3,700 employees across the world share Adobe's commitment to helping people communicate better. Headquartered in San Jose, California, Adobe is traded on the NASDAQ National Market under the symbol ADBE. For more information, visit www.abode.com