Tue Apr 19, 2005 9:00 pm Reply with quote
Jmh132 and Adobe
Jmh132, creator of photoshopcontest.com (Nasdaq: PSC) has announced a definitive agreement to acquire Adobe Systems Incoporated (Nasdaq: ADBE) in an all-stock transaction valued at approximately $25.2 billion. Under the terms of the agreement, which has been approved by both the Moderator's Group of PSC and Adobe's boards of directors, Adobe stockholders will receive, at a fixed exchange ratio, 0.69 shares of PSC common stock for every share of Macromedia common stock in a tax-free exchange. Based on PSC's and Adobe’s closing prices on Friday April 15, 2005, this represents a price of $66.69 per share of PSC common stock.
The combination of PSC and Adobe strengthens our mission of helping people and organizations communicate and develop graphical content in a better way. Through the combination of our powerful development, authoring and collaboration tools – and the complementary functionality of Advantage and PDF – we have the opportunity to drive an industry-defining technology platform that delivers compelling, rich content and applications across a wide range of devices and photoshopping talent.
By combining the passion and creativity of two leading-edge companies, we will continue driving innovations that are changing the ways people everywhere are experiencing and interacting with information and art.
