SAN JOSE, Calif. - Dec. 5, 2005 - Adobe Systems
Incorporated (Nasdaq:ADBE) today announced the completion of its
acquisition of Macromedia, Inc. The transaction was finalized on
Saturday, Dec. 3, 2005. As a result of the acquisition, Macromedia
common stock is no longer being traded and shares of Macromedia common
stock were converted into the right to receive 1.38 shares of Adobe
common stock.
The combination of Adobe and Macromedia creates one of the world's
largest, most innovative and diversified software companies. The
acquisition brings together some of the industry's strongest software
brands and most ubiquitous technologies for creating, managing and
delivering compelling content and experiences across multiple operating
systems, devices and media. The move also accelerates Adobe's strategic
initiative to advance a powerful software platform, based on PDF and
Macromedia® Flash® technologies, that scales from mobile devices to
high-end servers.
"The explosion of digital content, combined with the accelerating
proliferation of mobile phones, wireless devices and the growth of
broadband are transforming the way the world engages with information,"
said Bruce Chizen, chief executive officer of Adobe. "Adobe and
Macromedia are at the center of this trend, and together we will build
on our combined heritage to redefine the way people and businesses
communicate."
This week the company will begin executing the planned integration of
the two companies' operations, networks and customer care organizations
to ensure a smooth transition and immediate value for customers,
partners and investors. As part of the initial integration of product
portfolios, Adobe today announced three new product bundles that
combine the design and publishing power of Adobe® Creative Suite 2 and
Adobe video tools with the interactive strength of just-released
Macromedia Flash Professional 8 and Macromedia Studio 8 software (see
separate press release).
Management of the combined company includes executives and board
members from both organizations. Bruce Chizen continues as chief
executive officer and Shantanu Narayen remains as president and chief
operating officer. Macromedia's Stephen Elop has joined Adobe as
president of worldwide field operations. Murray Demo remains executive
vice president and chief financial officer. Dr. John Warnock and Dr.
Charles Geschke remain co-chairmen of the Board of Directors of the
combined company and Macromedia's chairman, Rob Burgess, has joined the
Adobe Board.
Additional information regarding acquisition-related expenses and
Adobe's fiscal year 2006 financial targets will be provided during the
company's fourth quarter fiscal 2005 earnings conference call scheduled
for Thursday, Dec. 15, 2005 at 2:00 p.m. Pacific Time.
Source: Adobe Press Release
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