Archive for April 18th, 2005
Blogged by Mike Chambers – News, resources, info and links on everything Flash from a Macromedia Product Manager for Developer Relations.
Well, as you probably have probably heard by now, Macromedia and Adobe announced this morning that our companies are combining. If you are like me, then I am sure there are a ton of questions going through your head. We have put up a mini site with more information, but I wanted to make a quick post to put some more context around what is happening.
Source: Boston Globe
Written By Michelle Johnson, April 18, 2005
For some consumers, $600 is a lot to pay for Adobe’s latest version of its flagship image-editing software, Photoshop Creative Suite 2. But according to Adobe, at least a third of Photoshop’s users are home users.
Company Expects Results Toward the High End of Previously Provided Financial Target Ranges
Written by Matthew Rothenberg
No, it’s not a belated April Fool’s joke: Adobe Systems really, truly is buying Macromedia Inc. to the tune of $3.4 billion.
This deal culminates what I reckon to be a decade’s worth of Macromedia acquisition rumors (practically since Macromedia was formed in 1991 by the merger of Macromind and Authorware). It also spells the end of a decade’s worth of rumors that Apple would be the buyer (although Apple did in fact purchase Macromedia’s Key Grip video-editing technology in 1998 and rename it Final Cut).
Read the entire article
Macromedia, was formed through the merger of three small software companies: Macromind, Paracomp, and Authorware. Macromind was most well known for Director (see the “Unofficial Brief History of Director“). Many Director customers created 3D renderings and animations using Paracomp’s Swivel3D, designed for photorealistic 3D graphics and true color output for illustration, product design, graphic design and animation. The two companies saw a synergy in their products and formed Macromind Paracomp in late 1990. Soon thereafter, Macromind Paracomp merged with Authorware to form Macromedia in 1991.
Macromedia aquired Aldus Freehand from Altsys, as a required divestiture returned Freehand rights to Altsys as a result of the merger of Aldus and Adobe in 1995.
Source: Adobe Statement
Adobe Systems Incorporated (Nasdaq: ADBE) has announced a definitive agreement to acquire Macromedia (Nasdaq: MACR) in an all-stock transaction valued at approximately $3.4 billion. Under the terms of the agreement, which has been approved by both boards of directors, Macromedia stockholders will receive, at a fixed exchange ratio, 0.69 shares of Adobe common stock for every share of Macromedia common stock in a tax-free exchange. Based on Adobe’s and Macromedia’s closing prices on Friday April 15, 2005, this represents a price of $41.86 per share of Macromedia common stock.
The combination of Adobe and Macromedia strengthens our mission of helping people and organizations communicate better. Through the combination of our powerful development, authoring and collaboration tools – and the complementary functionality of PDF and Flash – we have the opportunity to drive an industry-defining technology platform that delivers compelling, rich content and applications across a wide range of devices and operating systems.
By combining the passion and creativity of two leading-edge companies, we will continue driving innovations that are changing the ways people everywhere are experiencing and interacting with information.
Chief Executive Officer, Director at
Adobe Systems Incorporated
Officer since August 1994
Director since December 2000
49 years old
City University of New York at Brooklyn College, Bachelor of Science
Macromedia Press Release: SAN JOSE, Calif. – April 18, 2005 – Adobe Systems Incorporated (Nasdaq: ADBE) today announced a definitive agreement to acquire Macromedia (Nasdaq: MACR) in an all-stock transaction valued at approximately $3.4 billion.
The combination of Adobe and Macromedia will provide customers a more powerful set of solutions for creating, managing and delivering compelling content and experiences across multiple operating systems, devices and media. Together, the two companies will meet a wider set of customer needs and have a significantly greater opportunity to grow into new markets, particularly in the mobile and enterprise segments.
April 18 (Bloomberg) — Adobe Systems Inc., maker of Acrobat and Photoshop software, agreed to buy Macromedia Inc. for about $3.4 billion, adding programs that display images and sounds on Web pages.
Investors will receive 0.69 share, worth $41.86 at the close of trading April 15, for each Macromedia share, San Jose, California-based Adobe said in a statement today. That values San Francisco-based Macromedia at a 25 percent premium.
The Macromedia purchase, Adobe’s biggest ever, gives Chief Executive Bruce Chizen a broader set of programs to fend off expected competition from Microsoft Corp., which may include more document features in the next version of its Windows software. Macromedia’s Flash, used in 98 percent of desktop computers, also reduces Adobe’s reliance on Acrobat software that forms PDF files.
Written by Chris Noon, 04.18.05, 9:23 AM ET
Another brick in the wall: You know Adobe Systems (nasdaq: ADBE ) for its handy Acrobat and Photoshop programs that beautify desktop publishing with nifty fonts and applications. The leading graphics and software company is now to acquire (Macromedia (nasdaq: MACR), known for its Flash Player and Shockwave Player, in an all-stock transaction valued at approximately $3.4 billion, the companies announced today. Macromedia stockholders will receive 0.69 Adobe shares for every Macromedia share they own. Pending the approval of U.S. regulators, the transaction is expected to be completed by fall. Adobe Chief Executive Bruce Chizen, who will remain as chief executive of the new company, is hoping the merger will allow the two companies to team up to create more powerful software programs that can be used across multiple operating systems. “The primary motivation for the two companies joining is to continue to expand and grow our business into new markets,” Chizen said.
Mon Apr 18, 2005 8:57 AM ET
NEW YORK (Reuters) – Software maker Adobe Systems Inc. (ADBE.O: Quote, Profile, Research) said on Monday it agreed to buy multimedia software firm Macromedia Inc. (MACR.O: Quote, Profile, Research) for about $3.4 billion in stock, in order to extend its lead in the market for creating and distributing digital documents.