Wednesday, April 27, 2005

Adobe Buys Macromedia

CNN Original

Computer document company, Adobe buys multimedia software firm, Macromedia to create one of the greatest buys in the tech industry, for a huge $3.4 billion in stock, aiming to extend its market lead in the digital market and desktop publishing segments.

Bruce Chizen, CEO Adobe, will remain the CEO of the new company Adobe Systems, Inc., while Macromedia President and Chief Executive Stephen Elop will become president of worldwide operations at the combined venture.

So, what was this deal for ? Just to make money ? I guess so, its a monopoly now in the desktop publishing industry. Or is it that Adobe was getting stagnated off late, with just its PhotoShop, Illustrator and Acrobat Reader products ? In any case, I guess its a smart move for Adobe. I last heard the deal hasn't been done yet though.



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