p2pnet.net News:- Adobe Systems has says it`s about to buy Macromedia in an all-stock transaction worth approximately $3.4 billion.

The deal still has to be approved by both boards of directors, but under it, 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 Adobe`s and Macromedia`s closing prices on Friday April 15, 2005, this represents a price of $41.86 per share of Macromedia common stock, says Adobe.

It also claims the combination, strengthens our mission of helping people and organizations communicate better.

In the new company, Adobe chief executive officer Bruce Chizen continue in the same role, and Shantanu Narayen will remain president and ceo. Stephen Elop, president and ceo of Macromedia, will join Adobe as president of worldwide field operations. Murray Demo will remain executive vp and cfo.

John Warnock and Charles Geschke will remain as co-chairmen of the board of directors of the combined company and Rob Burgess, chairman of the Macromedia board of directors, will join the Adobe Board.

Will the new monopoly be called AdobeMedia?

Stay tuned.

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See:-
Adobe – Adobe and Macromedia, April 18, 2005
Macromedia – ADOBE TO ACQUIRE MACROMEDIA, April 18, 2005

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