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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.
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