Adobe Systems In $500 Million Deal for Frame
Adobe Systems Inc., extending its reach in the growing market for electronic publishing, agreed today to acquire the Frame Technology Corporation in a $500 million stock swap. Frame, based in San Jose, Calif., produces software used for creating technical documents in large corporations; most of the software runs on high-powered computer work stations using the Unix operating system. As such, it complements Adobe's Pagemaker product, which runs primarily on personal computers and is used to create documents like newsletters for smaller companies. Pagemaker was added by Adobe last year when it acquired the Aldus Corporation.
