Adobe CEO Pledges Company's IndependenceBy Reuters | Posted 2010-10-25 Email Print
Adobe Systems CEO Shantanu Narayen reportedly said that Adobe plans to grow independently. The statement comes after rumors swirled around Adobe as a potential takeover target.
(Reuters) - Adobe Systems aims to grow independently, its chief executive told a German newspaper, following speculation the software maker could become a takeover target for Microsoft.
"Adobe's growth prospects are so great that our focus is on seizing these opportunities as an independent company," Adobe Chief Executive Shantanu Narayen was quoted as saying by daily Financial Times Deutschland on Monday.
Adobe stock skyrocketed on October 7 after a New York Times report stirred speculation it might become an acquisition target for Microsoft. At Friday's close, it was still almost 10 percent higher than before the New York Times report.
The New York Times had said Microsoft CEO Steve Ballmer had met secretly with Adobe's Narayen at Adobe's San Francisco offices recently.
Narayen told Financial Times Deutschland that Adobe is in frequent talks with all major IT companies to ensure that its products run on all types of hardware and operating systems, including Windows.
(Reporting by Ludwig Burger; Editing by Erica Billingham)