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Investing.com -- Semrush Holdings (NYSE:SEMR) stock soared 67% Wednesday following a Wall Street Journal report that Adobe (NASDAQ:ADBE) is nearing a $1.9 billion acquisition of the SEO software provider.
According to the report, which cited people familiar with the matter, Adobe is set to pay $12 per share for Semrush, representing a significant premium over Tuesday’s closing price of $6.76. The deal could be finalized as early as Wednesday, though the sources cautioned that talks could still fall apart.
The acquisition would value Semrush at approximately $1.9 billion, nearly double its market capitalization of just over $1 billion before news of the potential deal broke. Semrush provides software that helps businesses optimize their search engine performance, a capability that has become increasingly important as companies adapt to the growing influence of artificial intelligence in digital marketing.
Neither company has officially confirmed the deal, according to the report. If completed, the acquisition would mark a significant exit for Semrush, which went public in March 2021.
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