"Adobe will acquire software platform Semrush for $1.9 billion, the companies said on Wednesday, as the Photoshop maker looks to strengthen its marketing tools and attract brands with generative artificial intelligence products. The company will pay $12 per share for Semrush, representing a premium of around 77.5% to its stock's last closing price. Semrush shares jumped 75% to $11.83 in premarket trading. Semrush designs and develops AI software that helps companies with search engine optimization, social media, and digital advertising."
"Adobe's tools, which also include InDesign, Acrobat, and Illustrator, have become household names in design software, widely used by enterprises, students, and creative professionals to edit, create websites, brochures, and graphics. The company also provides "Adobe Experience Cloud" to help companies with data and analytics. But investor pressure to ramp up monetization of AI products and features amid intensifying competition in the digital design industry has weighed on its shares, which have fallen more than 27% so far this year."
Adobe will acquire Semrush for $1.9 billion, paying $12 per share, a roughly 77.5% premium to the last closing price. Semrush builds AI software for search engine optimization, social media, and digital advertising. The deal, expected to close in the first half of next year, is intended to expand Adobe's marketing capabilities and provide generative AI features to help marketers understand brand perception through website searches and AI bots like ChatGPT and Gemini. Adobe's product suite includes Photoshop, InDesign, Acrobat, Illustrator, and Adobe Experience Cloud for data and analytics. Investor pressure to monetize AI has weighed on Adobe shares this year.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]