Adobe Systems Incorporated has signed a definitive agreement to acquire Macromedia, maker of the Flash animation software. The all-stock transaction is valued at approximately $3.4 billion and has been approved by both boards of directors. Under the terms of the agreement, Macromedia stockholders will receive 0.69 shares of Adobe common stock (at approximately $41.86 per share) for every share of Macromedia common stock in a tax-free exchange.
With the purchase of Macromedia, Adobe will add PDF and Flash to its lineup of development, authoring and collaboration tools, which includes PhotoShop, AfterEffects and Premiere. The company says the combined resources will help it continue to drive innovations that are changing the ways people everywhere experience and interact with information.
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