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Macromedia merges with Allaire to broaden developer allure

Flash technology pioneer Macromedia beat analysts' expectations as it announced a deal to make itself a one-stop shop for web developers through a $360m merger with website server development software outfit Allaire.

By Ron Coates

Published: 17 January 2001 16:59 GMT

The deal will allow Macromedia to move beyond its audience of web authors and rope in web developers who use server development software such as Allaire's ColdFusion and Jrun.

Allaire will get $3 cash and one fifth of a Macromedia share for each Allaire share. Jeremy Allaire, CEO of the eponymous company, will be chief technology officer of the merged company.

Macromedia announced that it had boosted profits for its third quarter by 97 per cent to $16.2m compared to the third quarter last year. Turnover was $103m for the quarter, up 61 per cent on the comparable period last year.

The company warned that earnings and turnover would be flat for the final quarter of its fiscal year due to 'soft economic conditions'.

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