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<font color="#0000FF">Interesting News: Adobe takes over
Macromedia<br><br>
</font><font size=4><b>Adobe snaps up Macromedia<br><br>
</b></font><i>The Australian</i> Staff Writers<br>
APRIL 19, 2005 <br><br>
Publishing software specialist Adobe Systems will buy rival Macromedia
with shares for about $US3.4 billion ($A4.43 billion).<br><br>
In the deal, which has been approved by both boards of directors,
Macromedia stockholders will receive 0.69 shares of Adobe common stock
for every share of Macromedia common stock. <br><br>
Based on Adobe's and Macromedia's closing prices on Friday, this
represents a price of $US41.86 ($A54.51) per share of Macromedia stock
and will result in Macromedia stockholders owning about 18 per cent of
the combined company. <br><br>
San Jose-based Adobe and San Francisco based Macromedia produce titles
used widely in online publishing. Adobe makes the popular Acrobat and
Photoshop programs while Macromedia makes the equally popular Dreamweaver
and Flash web-design titles. <br><br>
Adobe, chief executive Bruce Chizen will become chief executive of the
combined company while Macromedia CEO Stephen Elop will join Adobe as
president of worldwide field operations. <br><br>
Plans to integrate the two companies are being developed, although so-far
no mention of layoffs has been made. <br><br>
<font color="#0000FF">Cheers, <br>
TJ<br><br>
</font><x-sigsep><p></x-sigsep>
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