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Technology Stocks : Macromedia...making a comeback?
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To: Irish99 who wrote (1848)9/26/1997 2:25:00 PM
From: av ram   of 2675
 
Little old news but still interesting:

Macromedia Gains on Rumors
Company Might Be Purchased

Dow Jones Newswires

Shares of Macromedia Inc., a developer of software tools,
gained Tuesday amid renewed chatter that the San
Francisco company might be on the selling block.

The company has seen its fortunes fall because of a
troubled transition to new products and uncertainty about
Apple Computer Inc.'s future. Macromedia's software is
popular among graphic artists who use Apple's Macintosh
computers. Macromedia has been pushing increase sales
of software used on Windows-based computers, but
hasn't seen a big payoff yet.

The San Francisco Chronicle Tuesday reported rumors
are again making the rounds that the company might be
sold. Macromedia's low stock price makes it an attractive
takeover target in an industry that has been consolidating.
Speculation has been rampant in recent months that
Mountain View, Calif.-based Adobe Systems Inc.
considered buying Macromedia. Microsoft Corp.'s name
has also been bandied about but most analysts will remain
skeptical until Macromedia persuades them that it has a
compelling plan to right the ship.

Shares of Macromedia finished Tuesday's session up
93.75 cents, or 8.1%, to $12.50.

Last month, Macromedia shares gained after investors
became encouraged that Apple's alliance with Microsoft
and an overhaul of Apple's board will spark a turnaround
for the Macintosh market and for companies closely linked
with the Mac. But analysts have said it's too early to
predict whether the moves will reignite growth in the Mac
market.

Macromedia was hurt earlier this year by the decision to
postpone the rollout of the newest version of Director, its
core product. Macromedia also struggled to move its
product line out of CD-ROMs and into developing
multimedia tools that can be used on the Internet.

Macromedia makes software tools used to create
multimedia special effects on Web pages and other
formats. The firm is a stalwart in animation and
Internet-design software and some analysts have said the
company's long-term prospects remain healthy.

Macromedia products are coveted by graphic artists. The
main problem, some observers say, is that more than half
of all computer-graphics professionals still use the
Macintosh. And many of them this year delayed buying
new tools -- including Macromedia's -- because of
uncertainty about Apple's future.
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