[Year 12 IPM] Interesting News: Adobe takes over Macromedia

[Marshall, Graham F]

Why the hell can I not open the attacements?
 
This is happening too often?

________________________________

From: ipm-bounces at edulists.com.au on behalf of tony at star.melb.catholic.edu.au
Sent: Tue 4/19/2005 4:01 PM
To: ipm at edulists.com.au; vet-mm at edulists.com.au
Subject: [Year 12 IPM] Interesting News: Adobe takes over Macromedia


Interesting News: Adobe takes over Macromedia

Adobe snaps up Macromedia

The Australian Staff Writers
APRIL 19, 2005 

Publishing software specialist Adobe Systems will buy rival Macromedia with shares for about $US3.4 billion ($A4.43 billion).

In the deal, which has been approved by both boards of directors, Macromedia stockholders will receive 0.69 shares of Adobe common stock for every share of Macromedia common stock. 

Based on Adobe's and Macromedia's closing prices on Friday, this represents a price of $US41.86 ($A54.51) per share of Macromedia stock and will result in Macromedia stockholders owning about 18 per cent of the combined company. 

San Jose-based Adobe and San Francisco based Macromedia produce titles used widely in online publishing. Adobe makes the popular Acrobat and Photoshop programs while Macromedia makes the equally popular Dreamweaver and Flash web-design titles. 

Adobe, chief executive Bruce Chizen will become chief executive of the combined company while Macromedia CEO Stephen Elop will join Adobe as president of worldwide field operations. 

Plans to integrate the two companies are being developed, although so-far no mention of layoffs has been made. 

Cheers, 
TJ



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