Adobe to buy Semrush for $1.9 billion, sending marketing platform's shares up 70%

Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange on Feb. 20, 2024.Adobe said Wednesday that it reached a deal to acquire search engine marketing platform Semrush for $1.9 billion to boost its tools for marketers in the age of artificial intelligence.Semrush shares skyrocketed more than 70%, while Adobe fell about 2%.The design software firm said it will pay$ 12 a share for Semrush in an all-cash transaction. The deal is expected to close during the ...