Macromedia completes acquisition of Andromedia
Created 12/29/1999 - 01:00
files/pictures/picture-35.jpgEarly in December 1999, Macromedia, a leader in digital and Internet software, announced it had completed its acquisition of Andromedia Inc., a leading provider of eMarketing software solutions for e-commerce. Macromedia previously announced a definitive agreement to acquire Andromedia on October 7, 1999. As part of the merger, Macromedia will obtain all of the outstanding stock in Andromedia. The company will issue 5.2 million shares of stock in connection with the deal and will incur one-time charges from the merger of up to $5 million in its fiscal third quarter. Founded in 1996, Andromedia has more than 120 customers, including many of the largest sites on the Web. Major customers include Audi, Boston Herald, Checkout.com, Cinemax, Columbia House, E*TRADE, Intuit, Levi Strauss & Co., Office Depot On-line, Sun Microsystems, the U.S. Postal Service, The Weather Channel, and West Coast Entertainment Corporation. Strategic partners include Allaire, Art Technology Group, BroadVision, Computer Associates, EarthLink Network, Engage Technology, Hewlett-Packard, iXL, Kana Communications, Inc., NetGravity, Netscape, Sun Microsystems, and Vignette.