Adobe to buy Macromedia for $3.4 billion

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San Jose, Calif.—Adobe Systems announced plans to acquire Macromedia Inc., San Francisco, in a deal valued at approximately $3.4 billion. Under the terms of the deal, which has been approved by the boards of both companies, Macromedia shareholders will receive 0.69 shares of Adobe common stock for every share of Macromedia common stock. The merger will combine the capabilities of Macromedia Flash with Adobe PDF technology.

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