Software maker Adobe Systems Inc. said on Monday it agreed to buy multimedia software firm Macromedia Inc. for about $3.4 billion in stock to extend its lead in the market for creating and distributing digital documents.
Under the terms of the deal, Macromedia shareholders will get 0.69 share of Adobe, worth $41.86 at Adobe’s closing price of $60.66 on Friday on Nasdaq, for each Macromedia share. That is a 25 percent premium to Macromedia’s closing price of $33.45 on Friday.
