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Adobe buys Macromedia

Posted April 18th, 2005 06:29:05 AM (GMT) by Alexandros Roussos

Adobe Systems, Inc, has announced, today, that it is buying Macromedia, Inc, its biggest competitor, for $3.4 billion in shares. The two companies where mainly competing on web development and design applications.

Macromedia shareholders will receive 0.69 shares of Adobe for every share of Macromedia, Inc. On Friday, Adobe shares (ADBE) closed at $60.66 while Macromedia (MACR) shares closed at $33.45. The purchase represents a 25% plu-value for Macrmedia's shareholders.

Both companies are making software for Mac OS X. It remains unknown what strategy the new software giant will use, and if it will continue to support the Mac platform.

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