With the approval of stock holders of both Adobe Systems and Macromedia the $3.4 billion deal looks set to be completed later this year. Approval was strong among the three quarters of shareholders who voted: 99% of Adobe shareholders supportive and 99.8% of Macromedia shareholders voting in favor.
The deal with strengthen Adobe’s position in the document and web publishing market putting Acrobat pdf and Flash under the one roof. Macromedia’s Dreamweaver is considered a stronger web publishing tool than Adobe’s Go Live, while the battle between Illustrator and Freehand is likely to be resolved in Illustrator’s favor unless Adobe decides to (once again) resell Freehand like it did after the Aldus takeover.
Macromedia shareholders will receive 1.38 shares of Adobe common stock for each share of Macromedia common stock owned at the close of the acquisition. The deal is still subject to regulator approval and other conditions. US Regulators requested further information about the acquisition last month, although it is expected that the acquisition will be approved.