Graphic software developer to pay 25% premium in bid to expand audio and video applications.
In Adobe's biggest takeover so far ($4.3 billion), Macromedia shareholders will get 0.69 shares of Adobe. That represents a 25% premium to Macromedia's closing price on Friday.
Adobe also announced a $1 billion stock repurchase program to start after the Macromedia deal has been completed.
As always, when merging, both companies claim this move will make room for a lot of cost savings. The deal gives Adobe a very broad range of products meant for the sharing of documents. The future will tell what direction a company that has PhotoShop, and both the PDF & Flash technology in its portfolio, will follow.
News source:
ieXbeta
Full story:
View Here
Linear Mode
