San Francisco, CA and Seattle, WA—Macromedia, Inc. (NASDAQ: MACR) shockwave.com and AtomFilms today announced they have signed a definitive merger agreement to create the world's leading next-generation entertainment company. This new enterprise will be the premier global entertainment company delivering new forms of content to on-line and off-line consumers and businesses worldwide.
Under the terms of a definitive merger agreement unanimously approved by each company's board of directors, shockwave.com will acquire AtomFilms in a stock-for-stock deal. After the closing, shareholders of AtomFilms will own thirty percent of the consolidated company.
Rob Burgess, chairman and CEO of Macromedia and chairman of shockwave.com will become chairman of the new company. Mika Salmi, the founder and CEO of AtomFilms, will be CEO. Matt Hulett, chief marketing and online officer at AtomFilms, will become president. Michael Comish, managing director of Europe, will become president, International. shockwave.com CEO Lawrence Levy will serve in a strategic advisory role through the transition. The new company will be headquartered in San Francisco.
"AtomFilms and shockwave.com were both created to pioneer new forms of consumer entertainment and to develop new business models for content creators," said Burgess. "By joining the energies and talents of these two highly creative companies, we have the potential to change the way people are entertained around the world."
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