Adobe Systems Inc. expects its acquisition of Macromedia Inc. to close on Saturday, the company said Thursday.
The deal was announced in April this year but required clearance from shareholders and regulators before it could reach completion. The relevant clearances either have been received or will be received to complete the deal on Saturday, the company said.
The US$3.4 billion acquisition will see Macromedia shareholders receive 1.38 shares of Adobe common stock for each share of Macromedia common stock they own at the closing of the acquisition.
Adobe, in San Jose, Calif., hopes that by acquiring Macromedia it can expand its business in the Web publishing market. The deal will combine Adobe’s popular Acrobat document creation software and Photoshop imaging software suite with Macromedia’s Flash multimedia authoring environment and Dreamweaver development suite.