18-April-05, 07:18 PM
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| |  Web News: Adobe to buy Macromedia for $3.4 billion
Desktop publishing specialist Adobe Systems is buying multimedia applications maker Macromedia in a $3.4 billion deal geared toward building a software powerhouse.  | Quote: |  | | | | | | | | | | The all-stock deal, announced Monday, is designed to create a better-stocked source of tools for building and distributing multimedia content across a range of operating systems and devices, the companies said. They also stressed that the merger will enable them to expand more rapidly into the market for audio and video applications for handhelds and other gadgets.
In a conference call, Adobe CEO Bruce Chizen said that the buyout creates a more robust company capable of delivering new technology into a number of emerging markets.
"This acquisition strengthens Adobe's mission of helping people and organizations communicate better," Chizen said. "Whether it is documents, images, the Web, TV or new wireless and other non-PC devices, the methods we use to access this information continue to evolve." | |  | |  | | |
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