Check this out.
I worked at Adobe for 3 years, and this is pretty major news. The markets aren't very happy about it, though. Macromedia makes Flash, and Adobe makes just about everything else. This might help Adobe compete with Microsoft (my current employer) long term, but it sure adds a lot of risk elements. I've been holding on to some of my Adobe stock for years, and they've executed real well the last few years. This complicates things, and I'm just not sure the two companies will mesh well.