Adobe CEO Shantanu Narayen speaks during an interrogation with CNBC connected the level astatine the New York Stock Exchange connected Feb. 20, 2024.
Brendan Mcdermid | Reuters
Adobe said Wednesday that it reached a deal to acquire hunt motor selling level Semrush for $1.9 cardinal to boost its tools for marketers successful the property of artificial intelligence.
Semrush shares skyrocketed much than 70%, portion Adobe fell astir 2%.
The plan bundle steadfast said it volition wage $12 a stock for Semrush successful an all-cash transaction. The woody is expected to adjacent during the archetypal fractional of 2026.
Semrush, which offers hunt motor optimization tools to marketers, went nationalist successful 2021. Its biggest customers see Amazon and TikTok. Shares closed Tuesday astatine $6.76.
Adobe said the institution offers indispensable hunt motor and selling tools to assistance brands prosecute and turn customers, particularly successful the AI era.
"Brand visibility is being reshaped by generative AI, and brands that don't clasp this caller accidental hazard losing relevance and revenue," said president of Adobe's integer acquisition concern Anil Chakravarthy said successful a release.
Adobe, which is wide known for its Photoshop tool, has implemented much AI into its exertion stack implicit the years to capitalize connected the burgeoning trend. That includes an artificial quality assistant for Reader and Acrobat.
Unlike its larger tech peer, Adobe has had a pugnacious clip winning implicit immoderate investors.
Adobe's banal has shed much than a 4th of its worth this year, portion Semrush's banal is flat.
Software arsenic a service, oregon SaaS, platforms crossed the committee person sold disconnected this twelvemonth connected fears that the assemblage whitethorn beryllium losing stock to artificial intelligence.
Adobe antecedently made a $20 cardinal bid to bargain plan bundle institution Figma. That program was scrapped successful December 2023 arsenic it faced regulatory hurdles.
Figma went public successful July arsenic archetypal nationalist offering marketplace enactment picked up.
Semrush year-to-date banal chart.
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