According to the New York Times report Thursday, the CEO’s of two software giants Microsoft and Adobe Systems met recently to discuss a possible acquisition.
The report suggested that Microsoft Chief Executive Steve Ballmer has met secretly with Adobe CEO Shantanu Narayen at Adobe’s headquarters to negotiate a potential purchase of Adobe.
On Thursday the shares of Adobe System Inc. jumped sharply, closing up 11.5% at $28.69, due to the speculations that the company might be acquired by Microsoft Corp. Microsoft’s shares also closed up on the day.
The two companies discussed the success and dominance of Apple in mobile phones market and considered numerous scenarios to challenge that dominance, including Microsoft purchasing Adobe, according to the paper report.
Experts believe that such deal could be worth $15 billion or more based on Adobe’s current market value. The agreement would provide Microsoft a needed advantage and rejuvenate its forces to effectively compete with Apple within online media and mobile phone industries.