Adobe today announced the completion of its acquisition of Macromedia. As a result of the acquisition, Macromedia common stock is no longer being traded and shares of Macromedia common stock were converted into the right to receive 1.38 shares of Adobe common stock. The transaction was finalised on Saturday, 3 Dec 2005.
The combination of Adobe and Macromedia creates one of the world's largest software companies and will mean that the company has a major market share in both desktop and web publishing.
"The explosion of digital content, combined with the accelerating proliferation of mobile phones, wireless devices and the growth of broadband are transforming the way the world engages with information", said Bruce Chizen, chief executive officer of Adobe. "Adobe and Macromedia are at the centre of this trend, and together we will build on our combined heritage to redefine the way people and businesses communicate".
This week the company will begin executing the planned integration of the two companies' operations, networks and customer care organisations to ensure a smooth transition and immediate value for customers, partners and investors.
As part of the initial integration of product portfolios, Adobe today announced three new product bundles that combine Adobe Creative Suite 2 and Adobe video tools with the Macromedia Flash Professional 8 and Macromedia Studio 8 software
Management of the combined company includes executives and board members from both organisations. Bruce Chizen continues as chief executive officer and Shantanu Narayen remains as president and chief operating officer.
Macromedia's Stephen Elop has joined Adobe as president of worldwide field operations. Murray Demo remains executive vice president and chief financial officer. Dr. John Warnock and Dr. Charles Geschke remain co-chairmen of the Board of Directors of the combined company and Macromedia's chairman, Rob Burgess, has joined the Adobe Board.