Macromedia completes acquisition of Andromedia
Early in December 1999, Macromedia, a leader in digital and Internet software, announced it had completed its acquisition of Andromedia Inc., a leading provider of eMarketing software solutions for e-commerce. Macromedia previously announced a definitive agreement to acquire Andromedia on October 7, 1999. As part of the merger, Macromedia will obtain all of the outstanding stock in Andromedia. The company will issue 5.2 million shares of stock in connection with the deal and will incur one-time charges from the merger of up to $5 million in its fiscal third quarter.