Monday, December 5,2005 @ 1:20pm
Adobe closes Macromedia deal, offers bundles
The acquisition forms one of the worlds largest diversified multimedia software companies, bringing together Flash technology with the current Adobe product line for creating, managing, and delivering 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. Macromedia common stock is no longer being traded, and shares of Macromedia common stock have been converted into the right to receive 1.38 shares of Adobe common stock.
This week Adobe 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. 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, while 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.