Adobe Systems Incorporated and Macromedia, Inc. have announced that the stockholders of each company have voted in favor of Adobe's proposed acquisition of Macromedia at their respective special stockholder meetings held today. Of the 75.0% of outstanding Adobe shares voted, approximately 99.0% were cast in favor of the acquisition. Of the 73.2% of outstanding Macromedia shares voted, approximately 99.8 % were cast in favor of the acquisition.
Pursuant to the terms of the acquisition agreement, holders of Macromedia common stock will receive 1.38 shares of Adobe common stock for each share of Macromedia common stock they own at the closing of the acquisition. The companies anticipate that the transaction will close in Fall 2005, subject to appropriate regulatory approvals and the satisfaction of other closing conditions.