Dreams weaved as Adobe buys Macromedia
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Manufacturing News, Source : TheManufacturer.com
Published : 18 Apr 2005 14:39
Adobe Systems, the maker of Photoshop and other blockbuster software, today announced an agreement to acquire Macromedia, the maker of Flash and Dreamweaver, in an all-stock transaction valued at approximately $3.4 billion.
In the combined company, Adobe Systems CEO Bruce Chizen will continue as chief executive officer. Stephen Elop, president and chief executive officer of Macromedia, will join Adobe as president of worldwide field operations.
"Both Macromedia and Adobe are passionate about creating and enabling great experiences across a wide range of devices and operating systems," said Elop.
"Customers are calling for integrated software solutions that enable them to create, manage and deliver a wide range of compelling content and applications—from documents and images to audio and video," said Chizen. "By combining our powerful development, authoring and collaboration software…Adobe has the opportunity to bring this vision to life with an industry-defining technology platform."
Adobe employs 3,700 people worldwide In 2003, it reported revenues of $1.295 billion.
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