Adobe to buy Macromedia

Well well.  Adobe is set to acquire Macromedia.  According to the announcement on Adobe’s website –

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.

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