"Adobe Inc. is nearing a deal to buy the marketing software company Semrush Holdings Inc. for $1.9 billion, the Wall Street Journal reported, a takeover that would mark its first since the failed $20 billion acquisition of Figma Inc. in 2022. Adobe is set to pay $12 a share for Semrush, which had a market value of a little over $1 billion as of Tuesday, the Journal reported, citing people familiar with the matter. Semrush shares surged 71% in premarket trading to $11.55."
"Semrush provides a platform for businesses to analyze and optimize their online marketing, including how their companies appear in AI-generated search results. Best known for the software that creative workers use such as Photoshop, Adobe also offers a suite of marketing and analytics tools, which has been generating an increasing amount of revenue for the company. Still, Adobe's stock has struggled this year over concerns that advancements in AI will undermine the company's core business."
Adobe is preparing to acquire Semrush for $1.9 billion at $12 per share, expanding Adobe's marketing and analytics offerings. Semrush's market value was a little over $1 billion and its shares surged 71% in premarket trading after the report. Semrush provides tools to analyze and optimize online marketing, including appearance in AI-generated search results. Adobe is best known for creative software like Photoshop but has been growing revenue from marketing and analytics tools. Adobe's stock has fallen about a quarter this year amid concerns that AI advancements could undermine its core business. Adobe previously abandoned a proposed $20 billion acquisition of Figma after regulatory clashes in Europe and the UK.
Read at www.mercurynews.com
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